Circle Oil PLC - Morocco Production
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("Circle" or the "Company")
A recent earth movement near to the town of Kenitra in northern Morocco has resulted in the temporary closure of an Office National des Hydrocarbures et des Mines (ONHYM) owned and operated gas pipeline spur. This pipeline spur was used to transport some of the gas produced in the Sebou field which is owned by Circle Oil Maroc (who operate the field with a working interest of 75%) and ONHYM (with a working interest of 25%).
There were no injuries associated with the incident and the pipeline has been closed as a precaution while the situation is assessed and repairs are implemented.
Production from the field continues through Circle's separate pipeline system at production rates roughly 70% of the previous levels.
The reduction in gas flow rates is expected to be temporary and a further announcement will be made in due course.
For further information contact:
Mitch Flegg, CEO
Investec (+44 20 7597 5970)
Murray (+353 1 498 0300)
In accordance with the guidelines of the AIM Market of the
Mitch Flegg holds a BSc in Physics from
This information is provided by RNS
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