‘BW Athena’ Floating Production, Storage and Offloading Vessel (“FPSO”) has departed Dubai Dry Docks World to be met by a dedicated guard vessel.
All FPSO production critical equipment was run and fully tested prior to vessel departure thus minimizing the period between arrival in the Athena field and first production of oil.
Upon arrival in the field the BW Athena will be hooked up to the pre-installed production system. Hook-up will mark completion of the development phase and the Company anticipates that the production phase will commence in early Q2 2012. Production is anticipated to reach approximately 22,000 barrels of oil per day (“bopd”), approx. 5,000 bopd (net to Ithaca which operates the field with 22.5% interest).
Athena Field
The Athena field is situated in block 14/18b in the Outer Moray Firth area of the UKCS, lying approximately 18 kilometres west of the Claymore and Scapa fields and the associated production facilities. Ithaca currently holds a 22.5% interest in the block 14/18b. The field has been evaluated by Sproule Associates to contain 2P reserves (gross) of 24.4 million barrels of oil. The initial rate from the field is anticipated to be approximately 22,000 barrels of oil per day gross (4,950 net to Ithaca) with first production targeted for early 2012. Hydrocarbons produced at Athena will be transported from the BW Athena FPSO by shuttle tankers to the onshore Nigg storage facility, operated by Ithaca Energy.
Joint Venture partners in the Athena field are: Ithaca, operator (22.5%), Dyas UK Limited (47.5%), EWE Aktiengesellschaft (20%) and Zeus Petroleum Limited (10%)”
[mappress] Offshore Energy Today Staff, March 1, 2012