UK approves Western Isles oil development

Offshore staff

ABERDEEN, UK – Britain’s government has approved the development plan for Dana Petroleum’s Western Isles project in the UK northern North Sea.

The £1-billion ($1.62-billion) program relates to the Harris and Barra fields, 160 km (99 mi) east of the Shetland Island and 12 km (7.5 mi) west of the TAQA-operated Tern field.

A cylindrically shaped Sevan Marine FPSO used for the development will be built in China at COSCO’s Nantong and Oidong shipyards. At least five production and four water injection wells will be drilled for tieback to the FPSO, delivering more than 40,000 boe/d at peak, with oil exported via a shuttle tanker. Start-up is slated for 2015.

Dana operates Western Isles in partnership with Cieco. The two fields hold combined oil reserves estimated at more than 45 MMbbl recoverable.

12/17/2012

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