EnQuest: First oil from Alma/Galia put off for mid-2015

 EnQuest, a UK-based independent oil and gas company has informed that the Alma/Galia development in the North Sea is facing delays.

In its quarterly report, EnQuest said that the sailaway for EnQuest Producer FPSO, destined for the Alma/Galia area, will be put off for spring 2015.

EnQuest explained that the finishing work on the floating production storage offloading unit is now nearing completion and commissioning has started, but due to “some marine and topside legacy issues associated with earlier work, construction work in the UK yard has advanced more slowly than expected.“

First oil from the Alma field, scheduled to flow in the second half of 2014, is now rescheduled for the middle of 2015, as the FPSO sailaway,  to avoid the worst of the winter weather, is now planned for spring 2015.

The company also said that the subsea work has been completed with the exception of mooring and riser pull-ins to the FPSO, and that three wells have been completed and a fourth is underway.

Production in H1 2014 was 25,292 Boepd, up 17.9% on H1 2013, as a result of strong reservoir performance and high production efficiency, which are expected to continue in H2 2014, EnQuest has said.

Profit after tax and net finance costs was $75.1 million, down 23.1% reflecting increased interest costs following bond issuance.