Endeavour Finalizes Interest Acquisition in Bacchus Field
Endeavour Energy has received the necessary approvals to finalize the acquisition of an additional 20% working interest in the Bacchus field in the North Sea from Shell UK Limted. Endeavour will now hold a total working interest of 30% in the project.
The field development plan, calling for three wells tied-back to the Forties Alpha platform, was approved in June 2010 and first oil is expected in mid-2011. As for field development, the pipeline riser was installed on the Forties Alpha platform and the 4 miles (6.5 kilometer) subsea bundled pipeline construction was completed. The pipeline is scheduled to leave Scotland in early March. Apache owns a 70% working interest in Bacchus; and Endeavour owns the remaining interest.SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.
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