Owners Approve White Rose Oilfield

Husky Oil Operations Limited, operator of the White Rose oil field project and its co-venturer, Petro-Canada have decided to proceed with the development of the White Rose oilfield located offshore the East Coast of Newfoundland and Labrador, Canada.

The White Rose development plan is focused on a purpose-built Floating Production Storage and Offloading (FPSO) vessel with a peak production rate of approximately 100,000 bpd. Current plans provide for a total of 19 to 21 wells to recover between 200 and 250 million barrels of oil over a 10- to-15 year period. Peak production is expected to be approximately 92,000 bpd sustained for about four years. It is anticipated that the field will achieve first oil by the end of 2005.

Development costs will be approximately $1.4 billion with costs to first oil being less than $1.2 billion. Moreover full field operating costs are expected to be in the order of $1.2 billion over the 15-year life of the field. During the peak production years, operating costs are expected to average approximately $2.09/ barrel.

The operators have executed an agreement with Aker Maritime Kiewit Contractors (AMKC) for the completion of the topsides fabrication. The awarding of the other main contracts will be finalized and announced shortly.

Excavation of the subsea Glory Holes is scheduled to begin in the field in the third quarter, 2002, and development drilling is expected to commence in the first half of 2003.

Other stories from June 2002 issue


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