Heavy Oil Project News

Today there are 324 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 64% of the existing systems, 79% of systems on order. Production semis, barges, spars and TLPs comprise the balance. The oil/gas production floater inventory has increased by four units since last month. Three FPSOs were ordered in August. We also reinstated a partially completed production semi,  Octobuoy, which we earlier deleted from the list of orders when the contract was terminated. This unit was being built for use by ATP in the North Sea.

There are 320 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 64% of the existing systems, 79% of systems on order. Production semis, barges, spars and TLPs comprise the balance. Total oil/gas inventory is the same as last month – but two units on order last month (N’Goma FPSO and Delta House Semi) were completed and are now in the active inventory. Another 29 floating LNG processing systems are in service or on order. Liquefaction floaters account for 17%, regasification floaters 83%.

Peter Mellbye, Statoil’s executive vice president for Development and Production International. The concept chosen for the Mariner heavy oil project on the UK continental shelf includes a production, drilling and quarter (PDQ) platform based on a steel jacket, with a floating storage unit (FSU). Statoil expects a final investment decision in late 2012 and first oil in late 2016. The Bressay heavy oil project on the UK continental shelf is also progressing according to plan, one year behind Mariner, to ensure transfer of learning and synergies.

The concept chosen for the Mariner heavy oil project on the UK continental shelf includes a production, drilling and quarter (PDQ) platform based on a steel jacket, with a floating storage unit (FSU). Statoil expects a final investment decision in late 2012 and first oil in late 2016. The Bressay heavy oil project on the UK continental shelf is also progressing according to plan, one year behind Mariner, to ensure transfer of learning and synergies. The Mariner and Bressay projects were presented at a press briefing by Statoil’s executive vice president for Development and Production International, Peter Mellbye, at SPE Offshore Europe 2011 in Aberdeen. “After a period of uncertainty, I am proud to be able to say that we are back on track with the landmark Mariner and Bressay developments.

According to a report in the Chronicle Herald, the Newfoundland government is not bowing to pressures from big oil to reduce its royalty rates from the proposed $5-billion Hebron heavy oil project in the North Atlantic. In April, it was announced that the Hebron project was being suspended after its partners were unable to reach a development agreement with the government of Newfoundland and Labrador. Hebron, located 350 km off the Newfoundland coast, is estimated to contain 731 million barrels of oil. Oil majors with a stake in the project include ExxonMobil, Chevron, Petro-Canada and Norsk Hydro Canada Oil and Gas Inc. (Source: http://thechronicleherald.ca)