[UK] Kraken

Post Reply
escveritas
Site Admin
Posts: 3181
Joined: Sat Aug 29, 2020 5:40 am
Location: Singapore
Contact:
Singapore

[UK] Kraken

Unread post by escveritas »

The Kraken development is one of the largest development projects undertaken in recent years in the UK North Sea.

Image

Image

Kraken is a heavy oil producing asset and is the largest single asset in EnQuest’s portfolio. First oil was delivered in June 2017, with the field development plan completed around the end of the first quarter of 2019. More than 26 million barrels of oil equivalent have been produced since first oil to end of 2019 and the Group is now embarking on the next stage of the field's development, with a producer and injector pair being drilled into the western area. Assessment of further near-field, short-cycle drilling opportunities is ongoing. Kraken is expected to have a long field life of over 20 years with the prospect of relatively low decommissioning costs.
escveritas
Site Admin
Posts: 3181
Joined: Sat Aug 29, 2020 5:40 am
Location: Singapore
Contact:
Singapore

Re: [UK] Kraken

Unread post by escveritas »

20 Dec 2013

BUMI ARMADA SIGNS KRAKEN CONTRACT WORTH USD 1.4 BILLION / RM 4.6 BILLION

Malaysia-based international offshore oilfield services provider, Bumi Armada Berhad announced that its nominated whollyowned subsidiary, Armada Kraken Pte. Ltd. has signed a bareboat charter contract with EnQuest Heather Limited, EnQuest ENS Limited, First Oil and Gas Limited, Nautical Petroleum Limited and Nautical Petroleum AG as field partners, led by EnQuest Heather Limited as field operator on 20 Dec 2013 for a Floating Production, Storage and Offloading Vessel (“FPSO”) to be deployed at the Kraken field located in the UK sector of the North Sea.

Simultaneously Bumi Armada UK Limited, another wholly-owned subsidiary of Bumi Armada, and EnQuest Heather Limited also signed a reimbursable contract for the operations and maintenance (‘O&M’) of the Kraken FPSO. Both contracts run simultaneously for a fixed period of eight years, valued at USD 1.4 billion (equivalent to approximately RM 4.6 billion), with options for 17 annual extensions with a significant upside when the options are fully exercised.

Chief Executive Officer/Executive Director of Bumi Armada, Mr Hassan Basma said, “The Kraken oil field development is one of the largest new oil fields in the UK sector of the North Sea, and amongst the largest investment announced for this sector in 2013. Approximately 140 million barrels of heavy oil (APIº 14) are expected to be extracted from the Kraken oil field, over a 25 year life. The North Sea has some 20 billion barrels of recoverable heavy oil yet to be explored. We have already commenced work on the project on 27 Sept 2013, following the execution of the previously announced Letter of Interim Agreement (LOIA) and we look forward to working closely with our clients and value chain suppliers to successfully deliver our first North Sea FPSO to the Kraken oil field in 2016. We certainly hope that this would be the first of more projects to come.”

Bumi Armada will be using a recently built ice-class tanker for this FPSO conversion. The FPSO will have a storage capacity of 600,000 barrels. The FPSO will be moored by a buoy turret mooring system with a fluid transfer system designed to 390 bars pressure. A total of 16 risers will be connected to the buoy turret mooring; the turret will be one of the largest of its kind in the world.

The FPSO will also handle a peak fluid rate of 460,000 bpd* and 80,000 bpd oil production, 275,000 bpd water injection and 20 MMscf* gas handling capacities. The FPSO has a total installed power of 62 megawatts in a four by 15.5 megawatt configuration. The power plant is equipped with a triple fuel system including direct burning of heavy crude oil. The heavy oil will be produced by means of hydraulic subsea pumps (HSPs) and this type of submersible pumps have high reliability and require less maintenance compared to traditional electric submerged pumps. It is the second such application of its kind in the North Sea after the Captain field.

Bumi Armada UK Ltd was incorporated in the United Kingdom in 2012 after being awarded a contract by EnQuest to supply, operate and act as Duty Holder for the Armada Kraken FPSO. The Kraken field is located in the East Shetland basin, approximately 400km North-East of Aberdeen and produces heavy oil assisted artificially using HSPs powered by a dedicated HSP power water delivery system. The Armada Kraken FPSO arrived on location on 13th February 2017, hook-up was completed on 15th February 2017 with first oil achieved on 23rd June 2017. The first offload was successfully completed on the 12th September 2017, with approximately 500,000 barrels of oil exported to shuttle tanker.

The FPSO is a converted Suezmax tanker and has a nameplate production capacity of 80,000 b/d, storage capacity of in excess of 600,000 barrels and is able to handle 46,000 b/d of fluids.

Image
Post Reply

Return to “North Sea”

Who is online

Users browsing this forum: No registered users and 0 guests