San Leon, Baker Hughes Find Common Ground for Siekierki Gas Field

San Leon Energy and Bakher Hughes Poland are progressively converging on similar positions to bring the Siekierki gas field into production.

‘Commercial discussions and operational planning have progressed significantly since then in an effort to ensure workovers on the four Trzek wells are carried out in the summer and production is established as quickly as possible,’ reads a note released on Monday.

According to San Leon, in return for its funding of the testing, design and installation of facilities, Baker will receive an undisclosed return on this risked investment from 75% of profits generated from production until Baker’s investment has been fully recovered. 

“The goodwill and co-operation on this venture has been remarkable and we would like to thank all the people at Baker for their commitment and dedication to this project. We have agreed key commercial terms and are now finalising transaction documents. We expect a joint press release will be issued in the near future when final documents are signed. In the meantime, technical and operational teams from both companies are putting plans in place for Phase 1 testing and completion,” Oisin Fanning, San Leon Executive Chairman, commented in the press release.