Offshore staff

LONDON --Northern Petroleum is considering a multi-field development of three oil fields in the Italian Adriatic Sea.

The company commissioned Blackwatch Petroleum Services for three independent petroleum engineering reports on the Giove, Medusa, and Rovesti discoveries in the southern sector of the Adriatic.

The first of these reports suggests that Giove's reservoir, tested by two wells drilled by Enterprise Oil in 1998, contains a probable 19.67MMbbl of oil, with a current market value of $177 million.

Attention has now switched to Rovesti, thought to be similar in size, but with a lighter crude. If the results are encouraging,

Northern may look to bring in an FPSO with subsea completions, processing just over 23,000 b/d of oil. Eni's nearby Aquila field is also produced via an FPSO.

10/04/2007