Offshore staff
GUILDFORD, UK– The Oil & Gas Authority has approved Zennor Petroleum Ltd.’s Finlaggan field development in block 21/05c in the UK central North Sea.
The development project to recover 26MMboe of 2P gas condensate reserves will include two subsea production wells tied back 20 km (12 mi) to the ConocoPhillips-operated Britannia platform. First production is expected in 4Q 2020.
The Finlaggan development wells are currently being drilled by Transocean’s semisubmersiblePaul B Loyd Jr. The first of the two development wells, F1, has been successfully drilled through the reservoir section and is cased, cemented, and ready for completion and clean-up later in the drilling program.
The subsea construction contract has been awarded to TechnipFMC, with the main installation works planned for 2019. This includes the laying of a 10-in. pipe-in-pipe production flowline and electrohydraulic control umbilical back to Britannia.
In addition, Zennor has signed a £170-million ($221-million) senior secured term loan facility to fund the Finlaggan development into production.
The facility was structured, underwritten, and syndicated by Societe Generale, London Branch to BNP Paribas, DNB (UK) Ltd. and Nedbank Ltd. (together with Societe Generale, the Mandated Lead Arrangers) and Investec Bank plc and Barclays Bank plc (as lead arrangers).
10/22/2018
