ONE takes charge of Sean in North Sea

Oranje-Nassau Energie (ONE) has completed its acquisition of a 50% interest in the Sean field in the UK southern North Sea from Shell.

Jun 4th, 2015

Offshore staff

AMSTERDAM, the Netherlands – Oranje-Nassau Energie (ONE) has completed its acquisition of a 50% interest in the Sean field in the UK southern North Sea from Shell.

The company is now operator and has opened an office in Norwich on the English east coast to support its operations. SSE E&P UK holds the remaining 50% interest

ONE says the acquisition increases its total production to more than 20,000 boe/d, as well as marking its entry into the UK sector as an operator. The company is on track with its long-term reserve base growth strategy.

It has appointed Petrofac to provide duty holder services for the field under a three-year contract valued at $45 million, with an option for two one-year extensions.

Sean has been developed via a manned, bridge-linked wellhead and production platform, a normally unmanned installation, and a 30-in. export pipeline to Bacton on the east coast. The facilities are 68 mi (109 km) offshore northeast of Lowestoft.

Petrofac’s contract will support around 40 on/offshore jobs: the contractor will provide operations and maintenance and other services.

Alexander Berger, CEO of ONE, said: “We are optimistic about the growth prospects of the Sean area and believe that our experience, coupled with our strong balance sheet, makes us well positioned to capitalize on other opportunities.

Petrofac has been supporting ONE throughout its preparations for transfer of operatorship, including in its interface with UK regulators.”

ONE is currently an operator in the Dutch North Sea and a partner in the Nexen-operated Buzzard field andGolden Eagle Area development in the UK central North Sea.

Petrofac’s southern North Sea clients include Alpha Petroleum, Centrica Energy Upstream, Centrica Storage, Tullow Oil, and Faroe Petroleum.

06/04/2015

More in Regional Reports