Husky’s West White Rose project half way there

Canadian oil company Husky Energy has said that the development of its West White Rose offshore oil field project has passed a 52% completion mark.

Husky approved the West White Rose development in May 2017. The West White Rose field in Canada’s Atlantic is being developed using a fixed wellhead platform tied back to the SeaRose floating production, storage and offloading (FPSO) vessel.

In a statement on Thursday Husky said the West White Rose Project construction work on the concrete gravity structure and related topsides was progressing and that the project “is now 52% complete.”

“Construction continued on the Concrete Gravity Structure (CGS) for the West White Rose Project. A third planned slipform was completed at the dry-dock in Argentia, Newfoundland and Labrador, and the first three interior decks were installed. A fourth slipform was completed in mid-October,” Husky Energy said.

As previously reported, Husky awarded a contract for the construction of the CGS to a general partnership between SNC-Lavalin, Dragados Canada, and Pennecon.

The CGS will have an overall height of 145m, a base diameter of 122m and will require 76,000 m3 of concrete.

The installation work, expected in 2021, will be carried out by Norway’s Kvaerner, who will perform engineering, analysis, planning, and execution of marine operations related to tow and installation of the CGS. At its final location offshore on the Grand Banks, Kvaerner will be responsible for installing the concrete gravity structure on the seabed.

Husky Energy’s partners in the project are Nalcor and Suncor Energy. The first oil production from the field is expected around the end of 2022.

3Q earnings tumble

Husky on Thursday reported third-quarter results. Net earnings fell to $273 million, compared to net earnings of $545 million in Q3 2018.

Husky attributed the drop in earnings to lower profit from Upstream operations due to lower global crude oil benchmark prices and lower production.

It also said that its total earnings were affected by lower earnings from crude oil marketing activities due to the tightening of location pricing differentials between Canada and the U.S.; and lower realized Upgrading and U.S. Refining margins

Total production in barrels of oil equivalent was 294,800 boe/day, compared to 296,700 boe/day in the third quarter of 2018.

Offshore Energy Today Staff

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