Petrofac awarded deepwater project in Nova Scotia

Petrofac has been awarded a contract to work with the government of Nova Scotia to help identify the best way forward to exploit its ultra-deepwater oil potential.

Oil reservoir study

Under the terms of the contract, Petrofac has been tasked with delivering a development study for a prospective oil reservoir 3000 m beneath the seabed, in water depth of 2000 m. This is a multi-discipline, integrated project, being led by Petrofac’s specialist subsea engineering business, K W Subsea.

Additionally, teams from within Petrofac’s Engineering & Consulting Services (ECS) business and the wider group capability will provide support to the project, ranging from process design, naval architecture, subsea engineering, cost estimating as well as a specific drilling scope. The project is expected to be completed in early 2015.

Comments

Craig Muir, Managing Director for Petrofac’s ECS business, commented: “The potential outcomes of this study are of strategic importance for the Nova Scotia government and a great step forward for Petrofac in the ultra-deepwater market. The wider capability set of the Petrofac Group really helped us offer a value proposition. We now look forward to delivering that proposition for our customer.”

The government of Nova Scotia estimates its offshore potential to be approximately 120 trillion ft³ of natural gas and eight billion barrels of oil; it has already awarded a number of blocks to Shell and BP who have combined exploration commitments in excess of US$ 2 billion.

Adapted from press release by Katie Woodward

Read the article online at: https://www.oilfieldtechnology.com/exploration/31102014/petrofac-and-nova-scotia-collaboration-1737/