Project Profile
Value: US$1.5 billion
Location: North Falkland Basin, Offshore Falkland Islands
Reserves: 2C Contingent resources of 517 million barrels of oil and 747 million barrels of oil equivalent of natural gas.
Production: 160 mmbbls oil with a floating platform targeting 50,000-60,000 bpd
Area: 3,800 sq. km
Water depth: 450m
Start-up year: 2020
Rockhopper Group has 100% of 4 licences in the North Falkland Basin, PL023, PL024, PL032 and PL033, between them covering an area of approximately 3,800 sq. km. PL023 and PL024 are in shallow water (all less than 200m) and are situated relatively close to the Islands. The company has completed 2 separate 2D seismic surveys and 4 CSEM lines on this acreage. In addition, the Ernest target was drilled in 2010. The first 3D survey over the area is being collected at present. First oil is now targeted for 2019, another delay for the troubled development, but costs to first oil have also been reduced and are now estimated at under US$2bn with no need for an external partner. The initial phase will now commercialise approximately 160 mmbbls oil with a floating platform targeting 50,000-60,000 barrels oil per day.
PL032 and PL033 were previously licensed to Shell and are located in water depths of less than 550m. The company has completed a 3D seismic survey during 2006 and drilled one well on the Sea Lion target during 2010. The Sea Lion well (14/10-2) was an oil discovery and was subsequently flow tested during 2010. The company intends to drill a number of additional wells on this acreage during 2011. A second 3D survey is being collected on the acreage at present.
Operators:
Premier Oil: Operator with 60% interest
Rockhopper Exploration PLC: 40% interest
Contractors:
AGR Petroleum Services: Logistical support and managing drilling campaign
Diamond Offshore: Ocean Guardian drilling rig
Desire Petroleum: Seismic surveys
Houston Offshore Engineering: Pre FEED contract
RPS Group: Environmental Impact Assessment (EIA)
SPD Ltd.: Well engineering services
Wavefield Inseis ASA: Seismic surveys
AMEC: Tension Leg Platform (TLP) Front End Engineering and Design (FEED)
SBM Offshore: FPSO FEED contract (January 2016)
Subsea 7: FEED contract for SURF transport and installation. (April 2016)
National Oilwell Varco: FEED contract for flexible pipes. (April 2016)
OneSubsea: FEED contract for subsea production system. (April 2016)
Sub-contractors:
RDS: Front-end engineering design (FEED) contract by AMEC for Premier Oil’s Sea Lion development in the North Falklands Basin.The contract, which is expected to be carried out over the next 12 months, will see RDS deliver the design of drilling rig modules for a Tension Leg Platform (TLP), 200km north of the Falkland Islands.