Sevan scoops Bream FPSO FEED

Premier Oil has awarded Sevan Marine a Front End Engineering and Design contract for the hull and marine systems for the Bream field FPSO.

The FPSO will be of Sevan’s cylindrical design. The Premier-operated Bream field is located in the Norwegian part of the North Sea.

Sevan CEO Carl Lieungh said: “We are both proud and pleased to receive this FEED contract, demonstrating Premier Oil’s continued confidence in our technology.”

Bream is an oil field located 50km northwest of the Talisman-run Yme field. The field was awarded to Premier and partners in the 2006 APA licensing round, having originally been discovered in the 1970s. The discovery was successfully appraised during 2009.

Since being awarded the field, Premier has increased its stake on two separate occasions. First in August 2012 Premier purchased an additional 20% equity interest from Skeie Energy. Then in July 2013, Premier acquired an aggregate 40 per cent interest in the Bream project with Kufpec from BG, with Premier taking over operatorship of the Bream project.

Under a separate agreement Premier sold a 30 per cent interest in the adjacent PL406 licence which contains the Mackerel discovery to Kufpec thus equalizing the stakes across the two licences, PL406 and PL407 (which contains the Bream project).