Gaffney Cline Associates (GCA) has delivered a Competent Persons Report (CPR) to Rockhopper on the Sea Lion complex discoveries in the offshore North Falkland basin.
Offshore staff
LONDON – Gaffney Cline Associates (GCA) has delivered a Competent Persons Report (CPR) to Rockhopper on the Sea Lion complex discoveries in the offshore North Falkland basin.
This includes a scenario for a development based on a newbuild FPSO, which assumes first oil being achieved early in 2016, and a plateau production rate for the first three years of 70,000 b/d of oil.
The CPR estimates life-of-field development costs at $4.8 billion, including:
Drilling - $2.4 billion for 34 wells
FPSO - $294 million
Topside facilities - $522 million
Subsea facilities - $320 million
Flowlines - $481 million
Mobilization - $100 million
Project management, insurance, owners’ costs - $246 million
Contingency costs - $493 million
GCA has not provided an estimate of the capital cost to deliver first oil production, but Rockhopper’s internal calculation is roughly $2 billion, based on a development incorporating a leased FPSO, and a phased drilling program.
