Venture Production has announced that following the sighting of an oil sheen near the Kittiwake Platform on Thursday 6 November, an investigation into the possible sources of the sheen is being undertaken.

Although the source of the sheen remains unconfirmed, as a precautionary measure the Kittiwake facilities have been shut down since the afternoon of 6 November and will remain so until the source of the sheen has been identified.

At the time production was shut-in the Kittiwake platform was producing approximately 8,000 barrels of oil equivalent per day ("boepd") net to Venture's 50% working interest.

Venture as Platform Operator and Petrofac Facilities Management as Duty Holder are working closely with DECC (Department of Energy and Climate Change) to ensure that steps taken to identify possible sources of the sheen are performed in a timely manner and to an agreed process.

The basis of this process is contained within the already agreed GKA (Greater Kittiwake Area) Oil Spill Contingency Plan (OSCP). All actions are designed to limit and mitigate environmental risk.

By way of general update on its business, Venture will issue an Interim Management Statement on Wednesday 12 November. The Company will also give a Capital Markets Day presentation on its gas business at 2.30pm on the same day.

A copy of the presentation will be available on the Company's website (www.venture-production.com) immediately afterwards.