North-Sea Focused Companies Confirm Their Plans, Despite Looming Decommissioning
Companies focused on the North Sea the UK are showing signs of vitality with a flurry of statements suggesting that the region will maintain current production levels, and possibly increase it even further.
ENQUEST CONFIRMS ITS PLANS
EnQuest approved the development of its Scolty and Crathes oilfields in the North Sea despite the looming cut back on its capital expenditure and operating expenses.
‘The Scolty/Crathes field development plan has been approved and sanctioned. The project benefits from limited cash capital expenditure until first oil in 2017 and extends field life for the GKA field. Including this field life extension, unit capital costs for the project are under $20/bbl. Unit operating cost should be under $15/bbl in the initial peak volume years’ EnQuest wrote on Tuesday.
EnQuest is the largest UK independent oil producer in the UK North Sea.
OTHER PROJECTS IN the UK: INFRASTRATA AND ITS GAS STORAGE PROJECT
Infrastrata wrote on Tuesday it will drill the Woodburn Forest-1 well on PL1/10 in County Antrim in the next six months, adding it is willing to sell a part of the stake it owns in the field.
‘InfraStrata with partner Brigantes seeking to farm out a combined 45% interest in the licence to complete the 60% outstanding funding for the well’ the company said, adding that it will mainly focus on the Islandmagee Gas Storage project in County Antrim, whose costs will be partially covered by EU funding.
DECOMMISSIONING
Experts expect an increase in decommissioning programs in British waters over the coming years.
On Tuesday, Subsea 7 announced it will provide services for the second phase of Centrica’s Rose and Stamford gas field decommissioning programmes, located in the southern North Sea.
‘This project is the latest call-off contract under a partnership frame agreement signed in 2005. Subsea 7 has partnership frame agreements with several independent operators, to provide services on a long-term preferred supplier basis’ the company wrote on Tuesday.
NORWAY: STATOIL AND TROLL GAS FIELD
On Monday, Statoil received consent to use the COSL Promotor mobile drilling facility for the Troll gas field.
‘The Petroleum Safety Authority Norway has now granted Statoil consent for well operations in accordance with Statoil's application’ the Petroleum Safety Authority Norway wrote on Tuesday.