North Falkland Sea Lion Project: Premier Oil advancing in contracting suppliers

Monday, July 16th 2018 - 08:54 UTC

Full article 3 comments

The scope of supply covers 23 subsea production systems, including wellheads, trees, control, associated production and injection manifolds, subsea umbilical

Dril-Quip expects to start pre-sanction engineering work in August, with the formal award subject to agreement of a definitive contract with Premier and Rockhopper

Dril-Quip (Europe) in Aberdeen has announced a letter of intent with Premier Oil to provide subsea production systems for the Sea Lion Phase 1 development offshore the Falkland Islands. The letter of intent signed was described as a sizeable supply contract, but was undisclosed.

The scope of supply covers 23 subsea production systems, including wellheads, trees, control, associated production and injection manifolds, subsea umbilical and related services.

Dril-Quip expects to start pre-sanction engineering work in August, with the formal contract award subject to agreement of a definitive contract and Premier and partner Rockhopper taking a final investment decision on the project.

In addition, Dril-Quip would provide vendor financing for part of the contract.

Blake DeBerry, the company’s president and CEO, said: “We believe that our new product development efforts with respect to our subsea tree products were instrumental in our ability to satisfy Premier’s requirements.

“Also, our strong balance sheet allows us to provide Premier with vendor financing for a portion of the contract which is consistent with our overall strategy. Dril-Quip (Europe) has enjoyed a successful relationship with Premier that includes providing multiple subsea completion systems for Premier's Catcher Area development project in the North Sea.”

Premier only reported that a pathfinder bank has been appointed to assist with the development of the senior financing structure for the Sea Lion project.

“Premier is also continuing to put in place letters of intent with selected contractors for the provision of key services and vendor funding. Premier’s focus remains on securing funding for the project ahead of a final investment decision”.

Categories: Energy & Oil, Investments, Falkland Islands.

Tags: Blake DeBerry, Falkland Islands, Falklands, North Falkland Sea Lion Project, oil, Rockhopper, South Atlantic.

Top Comments

Disclaimer & comment rules

Brit Bob
Falklands Oil :-

By a ruling of the UN, Argentina will extend its maritime platform (Politica Argentina) ; New map of the maritime platform reaffirms the sovereignty of Malvinas with UN endorsement (ElCronista); Argentina enlarges its territory 35%, with a UN endorsement ...(La Capital).To add to this euphoric atmosphere the Argentine Foreign Minister stated, ''This is a historic opportunity for Argentina. We have taken a great step in the demarcation of the outer limit of our continental shelf; the most extensive boundary of Argentina and our border with humanity,'' Foreign Minister Susana Malcorra told La Nacion, which tomorrow will publicly announce the details of this resolution. (Susana Malcorra, quoted by Dinatale M, La Nacion, Argentina, 27 March 2016).

But...

Argentina's Continental Shelf Claims and The UN CLCA Commission (1 page):-
https://www.academia.edu/33898951/Argentinas_Continental_Shelf_Claims_-The_UN_CLCS_Commission
Jul 16th, 2018 - 09:52 am +1
chronic
Drill it all!
Jul 16th, 2018 - 08:55 pm 0
portman
not feed the world but rather ”fuel the world let them know its christmastime again!
Jul 18th, 2018 - 11:07 pm 0

Read all comments

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!