Update on UKCS Field Development Projects - Intsok

3 Possible future projects
One new entry (marked *).
Field Alder
Area Central North Sea
Operator Chevron
Development concept Subsea
Transport concept 27km pipeline to Britannia
Start-up 2012/14
Comments: Chevron has evaluated the development of Alder, an HP/HT oil and gas field, as
a subsea tieback to Britannia. In recent presentations it has suggested start-up would take
place in 2012, while according to partner ConocoPhillips, start-up is scheduled for 2014. Two
subsea wells are planned as part of the $500m project. It is expected that Alder will be part of
the second phase of the Britannia Satellites development. Alder may be one of the eight
HP/HT fields which stand to benefit from tax concessions offered in the pre-budget report last
Dec.
Field Caledonia Redevelopment
Area Central North Sea
Operator Premier
Development concept Subsea
Transport concept Existing pipeline to Britannia
Start-up --
Comments: Premier appears to have shelved plans to redevelop Caledonia in favour of
divestment. In Jan it said it had agreed to sell its 100% stake to Velo Energy, which is headed
by the former head of Oilexco. The Canadian company’s application to become a UK licensee
was turned down by DECC in the first instance, but it has now been accepted as a non
operating partner. So redevelopment of the field, as planned by Oilexco North Sea, which
Premier acquired last year, is for the time being on the back-burner. Last year Premier held
negotiations with Chevron concerning tariffs for the redevelopment of the field, which is tied
back to Britannia, but whether an agreement was reached is not known. Oilexco’s plan was to
redrill the existing well and drill one-three new producers.
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