Offshore staff

(Aberdeen) Offshore facilities services provider Petrofac has become operator of UK North Sea block 9/28a Part B. This contains the Crawford field, which was shut down by Hamilton in 1990 after two years of production through an FPSO. Performance fell below expectations, and the oil price at the time did not justify further development.

Aberdeen-based independent Tuscan Energy had hoped to revive the field, but ran into financial difficulties while re-developing the nearby Ardmore field in the same block. Petrofac bought Tuscan's operated interest, selling part of this to the existing partners, Fairfield Acer and Stratic Enegry (UK).

Fairfield is currently analyzing a reprocessed 3D seismic survey over Crawford, and estimates in-place oil reserves in the more accessible northern and eastern area at 140 MM bbl. Current thinking favors a phased development, tied back to an existing production complex.

05-21-06