First Oil in Sight at Huntington

The Huntington oil and gas field, located on Block 22/14b in the UK sector of the North Sea, is on track to commence production by the end of the month.

Sevan Marine reported that all risers are connected to the FPSO Voyageur Spirit as well as the entire Huntington system, from the wells to the FPSO. The final preparations for first oil and pre-commissioning are expected to take place shortly, Sevan Marine said in a released statement.

The transfer of title to the unit will commence upon first oil, which is dependent upon weather conditions and completion of certain final technical work.

Huntington's production facilities will have a capacity of 30,000 barrels of oil per day. Produced oil will be stored in the vessel's integrated tanks before it is shipped to the market with shuttle tankers, while natural gas will be exported via pipeline.

E.ON Ruhrgas UK E&P is the operator of the oil field, owning a 25 percent interest in the license. Other partners in the license include Altinex Oil Limited (20%), Premier (40%), and Carrizo Oil & Gas, Inc. (15%).

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Brent Crude Oil : $54.15/BBL 8.19%
Light Crude Oil : $49.2/BBL 8.80%
Natural Gas : $2.689/MMBtu 1.13%
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