The company expects the facilities to deliver around 500 bcf of gas (96 MMboe), with peak production of up to 300 MMcf/d (58,000 boe/d).
Rosetti Marino has an EPCIC contract to construct the minimal facilities platform which will export gas to shore via a new subsea pipeline.
Centrica’s Easington terminal on the Lincolnshire coast of eastern England will serve as the host, receiving the gas, with Saipem laying the pipeline under an EPCI contract.
Selection of the rig contractor for the four development wells should follow shortly.
Premier’s estimates its share of capex for the development at $120 million comprising project management and development drilling costs.
The infrastructure joint venture between Humber Gathering System Ltd. (a CATS Management group company) and Dana Petroleum will own and pay for the platform and pipeline capex and upgrades to the onshore terminal.
In return, Premier will pay a tariff for the transportation and processing of Tolmount’s gas through the infrastructure.
Construction is due to start later this year, with first gas targeted for 4Q 2020.
Partners in the Tolmount field are Premier (50%, operator) and Dana Petroleum (50%).
Premier’s CEO Tony Durrant said Tolmount was one of the largest undeveloped gas discoveries in the southern North Sea and in barrel of oil equivalent terms is similar in size to the company’s Catcher project in the central UK North Sea.