Q16 Maas

Following the discovery of gas and condensate in well Maasgeul-3 in August 2011, ONE started a fast turnaround Field Development Project with a targeted First Gas in 2013. The Maas Field, in which ONE has a stake of 42.15% (approximately) is modeled to be capable of producing 4 mln boe ONE share. In addition to the gas the reservoir is expected to produce 1 mln bbl of condensate. The preliminary FDP schedule requires a tight and parallel schedule with key Permitting, Commercial and Technical/Engineering milestones to be reached to ensure first production in 2013.