Independent oil and gas company Parkmead has announced first production from Diever West gasfield in the Netherlands.

Diever West in Netherland delivers first gas

Netherlands

THE HAGUE, November 20, 2015 – Independent oil and gas company Parkmead has announced first production from the onshore Diever West gasfield in the Netherlands. The field was brought to production in 14 months following its discovery in September 2014.

Production from the field will benefit the country at a time when the output from the massive Groningen gasfield has been cut by 4.1 bcm (145 mcf) per year down to 39.4 billion (1.4 tcf) in 2014 due to earthquakes in Europe’s gas production centre.

Diever West is currently producing at a rate of 820,000 cubic metres (29 million bcf) per day. The company’s increased production will fortify its position in the low and volatile oil price period.

Tom Cross, executive chairman of the company, said that the quick and low-cost development of the field was a great achievement.