Centrica Extends FPSO Contract for Chestnut Field

UK-based Centrica Energy reported Monday that it will extend its contract for the Hummingbird Spirit FPSO (floating production, storage and offloading) vessel until March 2016.

The Hummingbird Spirit has been operating on Centrica's Chestnut field in the central North Sea since 2008 and has already produced more than 13 million barrels of oil. Located, approximately 130 miles northeast of Aberdeen the Chestnut field currently produces around 7,000 barrels per day.

Work undertaken by Centrica means the field is expected to produce significantly more than the firm's initial expectations of seven million barrels over the next three years. The development of a water-injection side-track well and the attainment of greater production efficiency means that the recoverable reserves are now estimated to be around 18 million barrels.

Colette Cohen, Centrica's senior vice-president for the UK and Netherlands, commented in a company statement:

"Today's announcement to extend production at our Chestnut field shows, once again, that our efforts to optimize recovery from our North Sea assets are paying off.

"Centrica Energy is making good progress towards its international production goal and our UK operations will continue to play an important part of our success story, as we invest in new and existing projects."

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