Faroe tables decom plans for North Sea gas fields

Faroe's board has told shareholders to accept DNO's final offer
Faroe said the offer looks to "exploit the recent oil price fall"

Faroe Petroleum has tabled draft plans to the UK Government for decommissioning the Ketch and Schooner gas fields in the southern North Sea.

The Aberdeen-headquartered firm plans to decommission the normally unmanned platforms at the fields between now and 2025.

The topsides of both installations will either be completely removed and recycled, or remain in place and be converted to support facilities for offshore windfarms.

A decision will be made in the first half of next year.

Meanwhile, the pipelines will be trenched and buried in situ while subsea mattresses will be recovered to shore for reuse or disposal.

The Ketch and Schooner assets lie 100miles and  80miles respectively from the nearest landfall at Easington on the Yorkshire coast.

Faroe acquired operating interests in the fields in April 2014 from Tullow Oil in a £35m deal.

Breaking