El Paso Energy Partners Announces Successful Installation of Prince TLP in The Deepwater Gulf of Mexico

abarrelfullabarrelfull wrote on 20 Apr 2014 13:47

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July 19, 2001

El Paso Energy Partners, L.P. (NYSE: EPN) announced today that it has successfully installed the Prince Tension Leg Platform (TLP) facility in Ewing Bank Block 1003. The platform was installed in 1,450 feet of water approximately 120 miles south of New Orleans, Louisiana. EPN owns and managed the design and construction of the Prince TLP and related pipelines to gather and process oil and natural gas production from the Prince Field, a development project of El Paso Production Company, which is a business unit of El Paso Corporation (NYSE: EPG). The platform also will serve as a landing spot for future oil and gas developments in the Ewing Bank and Green Canyon areas of the Deepwater Trend of the Gulf of Mexico.

The Prince TLP platform consists of two primary segments — the hull and the deck. The platform includes the first mini TLP hull constructed to support producing well heads or dry trees and has a displacement of 14,400 tons, a hull weight of 3,500 tons, and a payload of 6,000 tons.

The deck and facilities include a three-level, 50,000-square-foot deck with a capacity of 50,000 barrels of oil per day and 80 million cubic feet of natural gas per day, as well as the capacity to accommodate a 1,200-horsepower workover or completion rig and the future addition of numerous sub-sea well tie-backs.

The successful deployment of the Prince TLP is a defining event for El Paso Energy Partners, one of the leading gatherers and transporters of oil and natural gas production in the Gulf of Mexico, said Bob Phillips, chief executive officer of El Paso Energy Partners. The installation of the Prince platform evidences our strong commitment to building critical infrastructure for the development of new energy supplies from the Deepwater Trend. Moreover, the ease of installation and cost effectiveness of the facility allows EPN to assist Deepwater producers with the timely and economic development of new fields that are vitally important to meeting the nation\'s energy needs.

The design of the Prince TLP features a passive spring tensioner rather than a conventional hydraulic system to support the dry trees. This feature is among the many firsts for facilities suitable for development of small to midsize fields. Initial production from the Prince field is expected later this quarter, and the produced oil will be transported to EPN\'s 36-percent owned Poseidon Oil Pipeline system.

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