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Wison to Deliver Concept Study for FLNG Vessel

March 12, 2014

Cott Oil and Gas Ltd. (Cott) has received an Expression of Interest (EOI) from Wison Offshore and Marine Ltd (Wison) in supporting the development of the Pandora Gas Field with a floating LNG (FLNG) vessel.

Wison to Deliver Concept Study for FLNG Vessel

Consequently, Cott has engaged Wison to deliver a concept study for a FLNG that would be suitable for the project.

The concept study is expected to outline a potential FLNG concept that would be appropriate for the resource, location, gas composition and expected production rates of the Pandora gas field and to provide preliminary advice and recommendations on the following:

  • Description of the pathway for development and evaluation of an FLNG concept (including Pre-FEED and FEED)
  • Alternative concepts including new build and retro-fit
  • Minimum storage requirements (sloshing minimisation and transhipment)
  • Sea states and mooring requirements
  • Offloading options
  • Gas pre-treatment and processing
  • Support infrastructure and vessels
  • Indicative capital costs and operating costs
  • Financing options
  • Economic viability of FLNG concept

Wison is currently constructing the Caribbean LNG vessel at its Nantong yard but has recently opened Stage 1 of a second fabrication yard at Zhoushan which, when complete, will encompass an area of 1.5 million and have nearly 2.3km of coastline. The new fabrication yard is intended to provide Wison with the capacity to leverage its FLNG expertise and deliver much larger FLNG vessels.

The concept study is expected to be complete by the end of April 2014. A positive outcome from the concept study would enable the Joint Venture to commence Pre-FEED (Front End Engineering and Design).

In commenting on today’s announcement, Cott Managing Director Andrew Dimsey states: “Wison are using proven LNG and offshore technologies and a highly experienced offshore engineering management team with its own shipbuilding capacity. Wison’s Expression of Interest validates Cott’s view that the Pandora gas fields are suitable for stand-alone development using Floating LNG technology.”

 

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March 12, 2014