Goliat start-up pushed back to mid-2015

Eni Norge says the FPSO for the Goliat field in the Barents Sea will depart the Hyundai yard in South Korea early next year.

Offshore staff

SANDNES, Norway – Eni Norge says the FPSO for the Goliat field in the Barents Sea will depart the Hyundai yard in South Korea early next year.

The facility was due to sail out at the end of June followed by final commissioning in Norway during the fall. However, Eni says elements necessary to complete commissioning offshore in theBarents Sea were not in place.

The licensees decided therefore to use the second transportation window contracted with theDockwise Vanguard vessel, and to complete commissioning of the FPSO in South Korea.

They now target a production start in mid-2015 with a fast ramp-up to steady production, given the opportunity to test and fine-tune theFPSO before it leaves South Korea.

Work on the FPSO hull is finished, the topsides are reaching mechanical completion, and commissioning activities are progressing. Final activities related to sea trials should be completed long before sail away.

Drilling of wells and installation of subsea facilities continue at the offshore location.

Goliat will be the first oil-producing field in the Norwegian sector of the Barents Sea, and has been designed for operation in Arctic conditions.

The plan for development and operation was submitted in 2009. At that time, Eni points out, the oil price was much lower, as were corresponding levels of activity in the global supply chain.

The company estimates costs of the project at around $7.55 billion, and claims that the economics are robust, as the deferral of production volumes has limited impact on profitability at the current price scenario.

05/23/2014

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