19 April 2024
Elgin leak could hit Total’s 2012 growth plans
Publication date: 03 April 2012
Gas Strategies Group
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Total on Monday said a 7 MMcf/d gas leak at its North Sea Elgin platform is currently costing the company an estimated $visual_editor.5 million/day, including $1.5 million in lost earnings and $1 million in costs. Total is progressing parallel plans to perform a “top kill” to plug the leaking well with mud, and the drilling of two relief wells. If the top kill fails, analysts at Barclays Capital said a potential six-month outage at Elgin will “leave Total struggling to deliver any volume growth in visual_editor01visual_editor”.