Operator Seeks $1 Billion for FPSO To Advance North Sea Life-Extension Project
Norwegian Continental Shelf (NCS) operator Vår Energi seeks $1 billion to lease a floating production, storage, and offloading (FPSO) vessel for its life-extension project for the Balder Area in the North Sea, according to the media reports.
The Jotun FPSO vessel was taken ashore to Stavanger in June for upgrades, which began the life-extension project.
The NOK 19.6 billion ($2.1 billion) project will extend the life of the field (PL 001) by 2045, giving the license a lifetime of 80 years. The project seeks to extract another 136 million BOE from the field, with 13 new production wells, and one water-injection well to be drilled.
Production is anticipated for the second half of 2022.
Vår Energi will also drill in the Barents Sea and North Sea this fall. The company postponed drilling in that area during spring due to the pandemic and oil-price collapse.
Drilling plans resumed after the Norwegian parliament made temporary changes to the petroleum tax in June.
The drilling campaign will be carried out by the Saipem-owned drilling rig Scarabeo 8, including two production and one water-injection wells at the Goliat Field in the Barents Sea. The King Prince exploration well, near the Balder/Ringhorne field in the North Sea, will also be drilled.
Vår Energi is owned by Eni (69.6 %) and private-equity investor HitecVision (30.4 %).
Brazilian Major Announces Mothballed Platform and Binding Phases for Offshore/Onshore Assets
The announcements are part of the company’s divestment strategy to reduce debt and improve capital.
Fugro Conducts First Fully Remote Inspection of Platform
The fully remote inspection was conducted with an ROV to increase worker safety and security and reduce environmental exposure on an offshore platform.
New-Design Containment System To Be Deployed on LNG Carrier for China
The LNG A-Box containment system is designed for LNG carriers to serve smaller terminals, where larger ships are not feasible.
Don't miss out on the latest technology delivered to your email every two weeks. Sign up for the OGF newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
29 July 2020
30 July 2020