Orcadian Energy plc said it had received three expressions of interest to provide an FPSO for the Pilot oil field development in the central North Sea.
WIND POWER
Three of four providers, currently operating FPSOs on the UK Continental Shelf, submitted detailed proposals.
Orcadian expects discussions to take several months before it makes a decision.
The company will use wind power to transform oil production into a “cleaner and greener process”.
The Pilot development is expected to be “among the lowest carbon-emitting oil production facilities in the world”, despite being a viscous crude.
CARRA FARM-OUT
The news follows the company’s non-binding heads of terms with Carrick Resources Ltd earlier in October for a sub-area of licence P2320 which covers the Carra prospect.
A formal agreement needs to be reached before 31 December 2021.
The Carra prospect lies to the east of the Crinan and Dandy discoveries and to the South of Fyne.
Orcadian said that the prospect had been previously estimated to contain P50 recoverable prospective resources of 30 MMbbls of medium gravity oil.