UK approves Premier Oil to develop Catcher area in North Sea

Posted on 12 June 2014

Premier Oil has received approval of its Catcher area field development plan from the UK Department of Energy and Climate Change. “The Catcher area development shows that there continues to be an extraordinary level of interest in North Sea oil and gas, which is excellent news for industry and for the whole of the UK,” Michael Fallon, UK Minister of State for Energy, said. “The project represents over £1 billion of investment and almost all of the subsea expertise and equipment needed for this development is being supplied by British companies right across the country.”

The Premier-operated Catcher area, located in the UK Central North Sea, is expected to produce 96 million bbl of oil equivalent with a peak production rate of approximately 50,000 bbl of oil per day.

The project will entail the drilling of 22 subsea wells (14 producers and eight water injectors) on the Catcher, Varadero and Burgman fields, which will be tied back to a leased FPSO. The oil will be offloaded by tankers, while the gas will be exported through the SEGAL facilities.

All major service contracts have been awarded, and the project is now in the execution phase. First oil is targeted for mid-2017.

“Having discovered Catcher in 2010, we are extremely pleased to have brought the Catcher area through the development approval process,” Simon Lockett, CEO of Premier, commented. “Once on-stream this project, which has been facilitated by the government’s small field allowances, will underpin our growing cash flows.”

1 Comments For This Post

  1. ataliba Says:

    Gostaria de receber notícias de área de petróleo e gás, sobre perfuração e completação de poços.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 30 January 2015

    Chevron, BP, ConocoPhillips advancing Paleogene discoveries in deepwater GOM

    Chevron and BP will collaborate with ConocoPhillips to explore and appraise 24 jointly-held offshore leases in the northwest portion of Keathley Canyon...

  • 29 January 2015

    PetroQuip deploys BigFoot toe sleeve in Anadarko Basin

    PetroQuip Energy Services successfully implemented its revolutionary toe sleeve, BigFoot, in a recent horizontal completion for an independent operator...

  • 27 January 2015

    US EIA: Lower 48 oil production outlook stable despite expected rig count reduction

    The sharp decline in oil prices over Q4 2014, which has continued in January, is already having a significant effect on drilling activity in the US, according...

  • 27 January 2015

    Hess announces 2015 capital, exploratory budget

    Hess Corp announced a 2015 capital and exploratory budget of $4.7 billion, a 16% reduction from its 2014 actual spend of $5.6 billion. Of this, $2.1 billion (45%) is budgeted for unconventional shale resources...

  • 26 January 2015

    Young professionals program at SPE/IADC Drilling Conference to target future leaders of the industry

    The oil and gas industry is constantly looking to the future. Whether this comes in the form of pushing the limits of pressure...

  • Read more news