Bumi Armada in line for North Sea Kraken floater

EnQuest and its partners have issued a letter of interim agreement (LOIA) to Bumi Armada Berhad for an FPSO for the Kraken project in the UK northern North Sea.

Offshore staff

KUALA LUMPUR, MALAYSIA – EnQuest and its partners have issued a letter of interim agreement (LOIA) to Bumi Armada Berhad for an FPSO for the Kraken project in the UK northern North Sea.

The LOIA allows Bumi Armada to proceed with critical activities and the procurement of long-lead items ahead of final contract award, which the company expects to signed before Nov. 30.

Kraken is a heavy-oil field in East Shetland basin block 9/02b. First oil is due to flow in 2016/2017.

The FPSO, which will have a storage capacity of 600,000 bbl, will be held in place by a buoy turret mooring system, and will be classed by DNV. It is due to remain on station for 25 years.

Bumi Armada will additionally assume the “Duty Holder” role under a safety case regime, reporting to the UK Health and Safety Executive and the Department of Energy and Climate Change.

11/18/2013

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