More UK FIDs to follow this year, analyst claims

Rystad Energy expects 13 UK offshore field development projects to be sanctioned in 2018, targeting total resources of 550 MMboe.

Offshore staff

OSLO, NorwayRystad Energy expects 13 UK offshore field development projects to be sanctioned in 2018, targeting total resources of 550 MMboe.

Potentially the second largest of thefinal investment decisions (FID) is Shell’s Penguins redevelopment, announced last month, designed to recover just under 100 MMboe via an upgraded FPSO with peak production of 45,000 boe/d.

Another project that appears to have received FID is Decipher Energy’s Orlando field, where Diamond Offshore will drill a development well this year.

BP is on track to start up itsClair Ridge project west of Shetland later this year, but may not be in a hurry to move ahead with its next extension project on the giant Clair field – Clair South – even though the latter has the UK government’s consent to proceed.

However, some FID notionally pencilled in for 2019 could slide forward into 2018, the analyst says, with Siccar Point Energy perhaps committing to an FPSO for itsCambo early production scheme west of Shetland.

02/09/2018

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