Premier cleared to start Shetland area offshore oil development

Premier Oil has approval from Britain’s government to develop the Solan oil field west of Shetland.

Offshore staff

LONDON – Premier Oil has approval from Britain’s government to develop the Solan oil field west of Shetland.

Theproject involves drilling four subsea wells - two producers and two water injectors - tied back to a processing deck supported by a jacket. Over time the wells will produce around 40 MMbbl of oil, with an estimated initial production rate of 24,000 b/d on start-up in 4Q 2014.

Premier has an agreement with Awilco Drilling for use of the semisubWilPhoenix for development drilling starting spring 2013.

The company expects to award procurement and fabrication of the topsides and jacket shortly to Burntisland Fabricators. Heerema has the contract for installation of the jacket, topsides, and subsea tank.

After one year of operations, the platform will be unmanned most of the time. Oil will be stored in a subsea tank prior and offloaded to shuttle tankers.

4/25/2012

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