Full Description

Venture Production Plc is engaged in oil and gas production. The Company focuses on the exploitation of discovered but undeveloped fields, known as stranded reserves, through the application of technology and oilfield operating practices. The Company operates in two segments: oil and gas. The oil segment consists of all activities connected with the Company’s oil assets, the Trees, Other Oil and Greater Kittiwake Area (GKA) hubs. The gas segment consists of all activities connected with the Company’s gas assets, the Gas UK and Greater Markham Area (GMA) hubs. During the year ended December 31, 2008, the net production was 45,006 barrels of oil equivalent per day (boepd). The Company’s subsidiaries include Venture North Sea Oil Limited, Venture North Sea Gas Limited, Venture Production (Services) Limited, Venture North Sea Gas Exploration Limited and NSGP (Ensign) Limited. As of September 4, 2009, Centrica PLC had acquired approximately 77.11% interest in the Company.