Parkmead completes acquisition of Netherlands assets

Oil and gas firm Parkmead has completed the acquisition of a portfolio of Netherlands onshore assets, comprising interests in four producing gas fields and two oil fields.

Oil and gas firm Parkmead has completed the acquisition of a portfolio of Netherlands onshore assets, comprising interests in four producing gas fields and two oil fields.

The assets, for which Parkmead is paying a total of €7.5m, include a 15% interest in the Andel V production licence, which covers the two producing gas fields at Wijk en Aalburg and Brakel, as well as the Ottoland oil field development, which is expected to come on-stream in 2013, plus a 15% interest in the Papekop production licence, including the Papekop oil field development.

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