AED Oil Ltd. has signed a binding heads of agreement for the provision of an FPSO for development of the Puffin field.
Offshore staff
AED Oil Ltd. has signed a binding heads of agreement for the provision of an FPSO for development of the Puffin field.
Under the agreement between AED Oil and Vanguard Oil & Gas Developments Ltd., Vanguard, in conjunction with Focus Oil and Gas Group BV, will supply the floating production unit. First production from the floater is expected by June 2006.
The contract calls for supply of a converted FPSO, equipped with capacity to handle 40,000 b/d, 12 MMcf/d, and storage for 740,000 bbls. Vanguard is expected to begin front-end engineering and design work on the project immediately.
AED says that it has secured the drilling rigStena Clyde to undertake the company's proposed drilling program on the permit, which is scheduled begin in the 4Q 2005.
