1 Daktilar

Bressay Statoil Cancelled Or Canceled

Norwegian oil company Statoil has canceled an option for a fixed platform for a UK North Sea development from South Korea’s shipbuilder Daewoo Shipbuilding and Marine Engineering. 

According to the shipbuilder’s regulatory filing on Friday, Statoil canceled the order for the fixed platform for the Bressay heavy oil project located in the UK sector of the North Sea on Thursday, July 28.

The field is operated by Statoil with 81.625% interest, while the remaining 18.375% interest is held by Shell. The order, placed back in 2013, was worth around $1.41 billion.

The shipbuilder also said that Statoil dropped the order for the project, already exacerbated by delays, due to deterioration in the global business environment. To remind, Statoil already put the Bressay development on ice, over low oil price environment, in March this year.

Offshore Energy Today reached out to Statoil seeking confirmation and further details about the cancellation of the order.

A Statoil’s spokesperson referred to the company’s previous update from March when Statoil said that after working many years to find a profitable development solution for the challenging Bressay asset, it had decided to halt the concept selection process.

The Bressay heavy oil field was first discovered in 1976, but a combination of technical and commercial challenges has resulted in the long period to mature the discovery to development. The discovery stretches over four licenses.

Offshore Energy Today Staff

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Posted on July 29, 2016 with tags Bressay, Daewoo, North Sea, Statoil, UK.

Norwegian oil company Statoil has terminated a contract for the Stena Drilling-owned semi-submersible rig Stena Don earlier than expected thus bringing into question around 180 jobs. 

According to a statement on Monday by the Norwegian offshore workers’ union, Safe, the contract for the Stena Don rig, operating on the Troll field off Norway since February 7, 2014, has been terminated and the rig will be available in November. The contract was originally supposed to expire in February 2017.

Stig-Rune Refvik, the head of Safe in Stena Drilling said the union was informed that the company does not have a drilling program available for the rig after the curent drilling operations end in early or mid-November. It is therefore likely that the rig will have to go into circulation in anticipation of the new contract.

Refvik noted that 180 employees will be affected by the contract termination and expressed hope that the the rig owner will keep the rig ‘warm’ and ready for new assignments off Norway.

He also said it was too early to say what is going to happen, but the union hopes an arrangement will be made to keep the workers in the company.

Stena Don is a Sonat/Hitachi-designed, harsh environment dynamically positioned Class 3 semi-submersible drilling built in 2001. The rig received PSA’s Acknowledgement of Compliance (AoC) in March 2002.

Offshore Energy Today Staff

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Posted on October 25, 2016 with tags Norway, Safe, Statoil, Stena Don.

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