Premier's Solan Project on Track to Deliver 1st Oil in 4Q 2014
Premier Oil said Thursday that its Solan project in the North Sea, West of Shetland, remains on track to deliver first oil during the fourth quarter of this year.
Reporting its annual results for 2013, Premier said that its four-well drilling program will continue on Solan field after a break between November and March to account for the severe winter period. A subsea storage tank is under construction in Dubai, with a target to sail away in mid-2014.
Meanwhile, construction of the topsides and jackets is progressing, and these should also been installed by mid-2014. Hook-up and commissioning planned to be undertaken prior to the end of the summer weather window West of Shetland, the firm added.
Premier estimates that the Solan field will initially produce around 24,000 barrels of oil equivalent per day (boepd) following ramp-up, before eventually producing approximately 40,000 boepd.
Premier also reported that "considerable progress" has been achieved on its Catcher area project since its development concept was agreed in December 2012. Reservoir modelling has been completed and well locations and sequence have also been optimized. Tenders for the well systems, Christmas trees and a heavy-duty jack-up rig were received in July and August and have now been fully evaluated.
The firm envisages that development drilling – which will involve the continuous drilling of up to 14 producing wells and eight water injectors – will commence in 2015 and continue beyond first oil.
Elsewhere, Premier said its Chim Sáo oil field in Block 12W, offshore Vietnam continues to produce well – averaging 12,500 bopd and 7,700 million cubic feet of gas per day net to the firm in 2013.
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