STOCKHOLM --Lundin Oil expects to restore full power generation capacity by mid-year on its Thistle platform in the UK northern North Sea. A fire in one of the turbine enclosures early last year led to constraints on water injection, in turn impacting production.
Redevelopment of the Thistle field continues: the re-build of the platform's drilling rig is virtually complete, and the top drive should be installed shortly. Further facilities are being added to accommodate exports of third party oil from Petrofac's West Don and South West Don fields. The associated tariff income should help Lundin lower Thistle's net operating costs.
Following acquisition of new 3D seismic, a subsurface review has identified numerous new drilling and workover opportunities on Thistle, resulting in an increase in the field's proven and probable oil reserves to 13.1 MMbbl. Development drilling should resume in 2010, Lundin adds.
The company also operates the undeveloped Peik gas/condensate field on the UK/Norway maritime boundary. The partners are in discussions over a potential host platform, but at current oil and gas prices, the development looks marginal. Lundin expects a decision to be taken within the next three months.