North Sea FPF-1 Platform Ready For Stella

Published at 10:09AM - 24/07/16

After years of delays, the FPF-1 production platform is nearly ready to be deployed in the UK North Sea, where it will operate on the Stella project.

The rig is being built at the Remontowa shipyard in Gdansk, Poland and is expected to set sail to the UK soon.

“The ‘FPF-1’ floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland,” the company informed in a statement.

Ithaca Rig Ready for the UK North Sea

“The vessel has been moved to a deep water location offshore Gdansk to undertake final marine system trials over the course of next week,” the company stated.

“Upon completion of these trials, the FPF-1 will commence the tow to the Stella field. A further update will be provided once towing operations have commenced,” it added.

The unit is expected to take approximately ten days to arrive from Gdansk to its location in the UK North Sea.

The Greater Stella Area is operated by Ithaca and is located in the core of the Central Graben area of the Central North Sea, on the UK Continental Shelf (UKCS).

The area licences contain the Stella and Harrier fields, which have received an approval for development in April 2012.

The development will involve drilling subsea wells tied back to the unit with the transportation of processed hydrocarbons to nearby existing facilities.

Petrofac Could Receive £25.9m By End-Month

Petrofac was awarded a contract to upgrade and modify the production unit in October 2011 and the development plan for the field was approved in April 2012.

First oil was initially scheduled for the second half of 2013, but this never happened.

In September 2015, Ithaca Energy and Petrofac signed another agreement, whereby Ithaca was to pay Petrofac up to US$34 million (£25.95 million) depending on the date of the sail-away of the platform.

Under the agreement, Petrobras would reach the maximum level of the payment before the end of March 2016, and the incentive payment would erode on a daily basis to zero by July 31, 2016.

As the date is getting closer, it remains unclear whether Petrofac will obtain anything from the agreed incentive, media sources are reporting.