Energy consultancies Rystad Energy and Wood Mackenzie expect 13-14 North Sea developments to have reached final investment decisions (FID) by the end of this year.
EV takes a closer look at some of the standout projects set for sanctioning in 2018:
-One of the largest UK fields expected to reach FID this year, Shell’s Penguins redevelopment.
-The energy giant announced its plans for the project last month and is expected to have reserves of just under 100 million barrels of oil equivalent.
-Peak production is set to hit 45,000 boe/d.
-150 miles north east of the Shetland
-Another project that “appears to have received FID” is Decipher Energy’s Orlando field.
-Estimated reserves of between 8.5 and 15.3 million barrels of reserves
-Peak production expected in excess of 10,000 boe/d.
-Diamond Offshore has been selected to drill a development well this year.
-The second FPSO project in the UK expected to reach FID since 2016.
-Operator Alpha Petroleum has selected Teekay’s Varg FPSO for the project, east of Shetland.
-Alpha estimates at least 30,000 boe/d
Buzzard Phase Two
-Nexen is assessing phase two of the massive Buzzard development, the highest producing field in the UK.
-Discovered in 2001 Buzzard was initially thought to produce about 450 million barrels over its lifetime, but over 600milllion have been recovered to date.
-Phase two in northern part of the field.
-Buzzard currently produces between 160,000 to 170,000 barrels per day
-Sits 60 miles north-east of Aberdeen.
-First discovered in 2011 by E.ON, operator Premier Oil expects it to reach FID in the first half of this year.
-Premier expects to produce 540 billion cubic feet of gas from four producing wells in the initial phase.
-Premier took over Tolmount in 2016 when it bought E.ON’s UK North Sea assets in an £85million deal.
-Located 40 miles east of the Yorkshire coast in the southern North Sea.
– An extension to BP’s Clair Ridge project which is expected to start up early this year.
-The project may face delays, according to Rystad, as BP “may not be in a hurry” to move ahead with this project so soon after Clair Ridge.
-BP is targeting 640 million recoverable barrels with Clair Ridge.
-Clair Field sits 46 miles west of Shetland.
– Actually set for 2019, Rystad says this is a project that could be sanctioned ahead of schedule.
-Siccar Point, who is 100% operator, says 100 million recoverable barrels have been discovered.
-Final appraisal well to be drilled this year.
-Lies 77 miles north-west of Shetland.
Blythe and Vulcan
– Independent Oil and Gas (IOG) is planning to hand out a series of platforms to develop “several gas fields”, according to Rystad.
-Among them are the Vulcan and Blythe Satellite gas hubs, consisting of five gas fields in the southern North Sea.
-Reserves of 303 billion cubic feet of gas.
Other projects which could get the go-ahead include i3 Energy’s Liberator development, Shell’s Fram field, Apache’s Corona field, BP’s Vorlich field, Ineos’s phase two development of Breagh and Zennor Petroleum’s Finlaggan licence.
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