Chestnut Field Extended Up to Three Years
Partners Spirit Energy and Dana Petroleum will invest £140 million ($177 million) to extend the life of the Chestnut field in the UK North Sea by as much as three years. The companies announced on Friday that they reached a deal with Teekay to extend the employment of the Hummingbird Spirit floating production, storage and offloading unit (FPSO) until March 2023 as the partners plan to drill a fourth production well by the first quarter of 2020.
When Chestnut came online in 2008 it was initially expected to produce 7 million barrels of oil in just over two years, but it has exported more than 24 million barrels following additional investment from Spirit and Dana.
Neil McCulloch, Spirit Energy’s Executive Vice-President Technical & Operated Assets, said, “Over time and with new technology we have understood more about the properties of the Chestnut reservoir. Rather than rest on our laurels, I am proud that we have gone further and secured the future for the offshore crews while extending the life of an important field for us. This is a good example of MER UK in practice and an asset being in the right hands.”
Kenneth Hvid, Teekay’s President and Chief Executive Officer, said, “The new terms of the contract extension are expected to provide more cash flow visibility and stability to the company.”
Affordable High- Definition Video Solution for Divers
The ‘E-Vision HD’ portable video monitoring system, supplied by C-Tecnics in Aberdeen, can monitor and record underwater activities in stunning high definition quality.
The product is added to a wide range of video systems offered by the subsea video systems manufacturer and was developed to meet the growing demand for high definition survey footage. Video is recorded in 1080p resolution, providing significantly sharper picture than that of standard definition used in large portions of the diving industry.
The ‘E’ series of systems was originally designed by C-Tecnics for end users that prefer to deploy a simplified DVR-based video controller for monitoring diving operations, unlike the ‘C-Vision’ series which integrates a full computer system. It allows diving service providers to enhance their underwater survey capabilities while keeping equipment costs within budget.
Impact Subsea Expands Operations With New Office
Impact Subsea has announced the expansion of operations with the opening of a new office in Aberdeenshire, UK.
The new office more than doubles the company’s space for product development, sales and marketing functions. The additional space enables the expansion of these functions to support continued business growth.
All sales, marketing and product development staff will be located in the new office, with the original company premises now utilised entirely for production of the company’s range of ROV & AUV Sonar, Altitude, Depth, AHRS and Flooded Member Detection Systems.
Ben Grant, Managing Director, Impact Subsea, commented: “Following significant growth in our core business; we are delighted to enhance our facilities with the new office. The further working space will greatly assist our continued growth while providing an excellent working environment for the team.”
Impact Subsea specialises in the design and manufacture of innovative underwater Sonar, Altimeter, Depth, Heading & Motion sensors for the ROV and AUV markets.
November 2019
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