Repsol Sinopec extends flotel contract as Montrose work drags on
- Business & Finance
Repsol Sinopec Resources UK Limited, formerly Talisman Sinopec Energy UK Limited, has exercised a further four weeks of options for the Prosafe-owned flotel Safe Boreas.
Prosafe said on Tuesday that the Safe Boreas will continue operations for Repsol Sinopec at Montrose A in the UK sector of the North Sea through April 24, 2017, with the reduced option periods’ day rate consistent with market conditions continuing.
Repsol Sinopec has the ability to extend the Safe Boreas further through weekly options.
Prosafe’s 2015-built flotel is supporting the complex next four phases of the Montrose Area Redevelopment (MAR) project that sees the significant modification and expansion of the existing Montrose Area infrastructure including the development of three new fields: Godwin, Cayley and Shaw.
The Safe Boreas started its 245-day firm operational period at Montrose A in mid-March 2016. The flotel’s previous extension was agreed in mid-February for a one month period. The unit has the capacity to accommodate 450 persons in single man cabins.
While production from the Shaw field was previously expected to start in the first quarter of 2017, Repsol Sinopec said on Monday it is now confirmed for the second quarter this year.
Offshore Energy Today reached out to Repsol Sinopec seeking further details on the Montrose development work and the reason behind the delay, however, we are yet to receive the company’s response.
Offshore Energy Today Staff