Ping Petroleum Renames FPSO Set For Avalon Field

Ping Petroleum Renames FPSO Set For Avalon Field
Ping Petroleum has renamed its recently acquired FPSO vessel set for the Avalon field off the UK.

Dagang NeXchange Berhad (DNeX), via its subsidiary Ping Petroleum, has renamed its recently acquired floating production storage and offloading (FPSO) vessel set for the Avalon field offshore the UK.

Previously known as the Sevan Hummingbird, the renaming ceremony was recently held in Port of Nigg, Scotland, witnessed by delegations from DNeX and Ping.

Tan Sri Syed Zainal Abidin Syed Mohamed Tahir, Group Managing Director of DNeX, said the FPSO is now named Excalibur ahead of its deployment at the Avalon development.

“We are proud to be the new asset owner and ready to progress in our maiden greenfield upstream project, starting on a clean slate in line with DNeX’s and Ping’s growth strategies. Representation from DNeX being present at the event demonstrates the Group’s continued commitment to this project. DNeX and Ping are upbeat about the prospect of Avalon development,” he said.

Tahir added that the next step was to retrofit the FPSO with electrification capability, supported by a dedicated floating offshore wind turbine that is purpose-built for the Avalon’s requirement.

To that goal, Cerulean Winds and Ping Petroleum signed an agreement to create one of the UK's first offshore oil and gas facilities powered by offshore wind. The provision of wind power will remove up to 20,000 metric tons of CO2 emissions every year from the offshore production facility.

Under these plans, Cerulean Winds with its partners will provide a large floating offshore wind turbine which will be connected via cable to Ping Petroleum’s FPS vessel.

This will be one of the largest floating wind turbines built in the UK and will provide most of the power required by the production and storage vessel. It is expected that green power produced by the turbine will exceed the energy needs of the production vessel, with the partners exploring options to supply excess energy to other nearby production facilities.

“The Excalibur can set the benchmark for a greener upstream operation with the deployment of a wind turbine technology that powers the entire production facility. This is a significant milestone for the Avalon Development and timely as we progressively move forward with the energy transition,” he said.

Ping took delivery of the FPSO from the marine energy transportation company Teekay in early July this year. First commissioned in 2008, the Excalibur has a storage capacity of 270,000 barrels of oil. It can produce about 25,000 barrels per day, supported by up to 47 offshore personnel.

Ping finalized the conceptual development planning and began front-end engineering works in preparation to submit the Avalon field development plan, with a final investment decision expected later this year.

The proposed development concept allows Ping to expand and diversify its portfolio of producing assets in full compliance with the UK’s production and emissions-reduction targets.

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