Kuwait collection for Petrofac
UK contractor Petrofac has collected a new contract with Kuwait Oil Company for work on new oil and gas pipelines.
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Frøy moves forward
Published 14.08.2008 12:36:22 by John Bradbury
Norway’s DNO has agreed a deal to re-develop the Frøy field with a new jackup up production platform.DNO declared today that it has signed a heads of agreement deal with an un-named contractor who will lease the production platform for at least 10 years.
Froy, in Norwegian licence PL364, is due to come back onstream in the third quarter of 2012 and is estimated to contain another 56 m bbl of oil with initial output forecast at 28,000 b/d of oil.
The jackup lease deal is for an initial ten years with options for a further five, and depends on approval by field licence partners and submission of a plan for development and operation of the field,
DNO operates the field with 50% and the remaining equity is owned by the Norwegian subsidiary of UK-based Premier Oil, after the field licence was awarded in the 2006 APA round.
A decision on adoption and submission of the PDO for Frøy is shortly due to be taken by DNO and Premier.
Froy, in blocks 25/2 and 25/5 first came onstream in 1995 after getting development approval in 1992. It ceased production in 2001, after producing 5.6 Mcm (35 m bbl) of oil, 1.6 Bcm (56 Bcf) of gas, plus 0.1 m tonnes (750,000 bbl) of condensate.
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