Offshore staff
LONDON – Gaffney Cline Associates (GCA) has delivered a Competent Persons Report (CPR) to Rockhopper on the Sea Lion complex discoveries in the offshore North Falkland basin.
This includes a scenario for a development based on a newbuild FPSO, which assumes first oil being achieved early in 2016, and a plateau production rate for the first three years of 70,000 b/d of oil.
The CPR estimates life-of-field development costs at $4.8 billion, including:
- Drilling - $2.4 billion for 34 wells
- FPSO - $294 million
- Topside facilities - $522 million
- Subsea facilities - $320 million
- Flowlines - $481 million
- Mobilization - $100 million
- Project management, insurance, owners’ costs - $246 million
- Contingency costs - $493 million
GCA has not provided an estimate of the capital cost to deliver first oil production, but Rockhopper’s internal calculation is roughly $2 billion, based on a development incorporating a leased FPSO, and a phased drilling program.
4/20/2012
