Xcite pursuing funding for North Sea Bentley building blocks

Offshore staff

BANCHORY, UK -- Xcite Energy says it is continuing its efforts to secure funds for the construction and delivery of the mobile offshore production unit and floating storage and offloading vessel for the heavy-oil Bentley field in the UK northern North Sea.

The current industry downturn has freed capacity in shipyards leading to increased competitiveness for major projects, with potential benefits for Bentley’s first-phase development.

Construction of the N Plus Class drilling rig contracted for the project is progressing in Singapore, Xcite adds.

The company is in dialogue with the UK’s Oil and Gas Authority (OGA) on its technical approach to the project to ensure it is compliant with government policy, and maximizes economic recovery from the field.

8/27/2015

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