Foinaven Phase 1 - Oil Export Decision

abarrelfullabarrelfull wrote on 06 Aug 2012 09:15

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28 April 1995

BP Exploration announced today that it intends to award a contract to the Flotta Oil Terminal in Orkney for the provision of trans-shipment services for the Foinaven phase 1 development
Subject to the satisfactory outcome of negotiations, the contract will be awarded for a minimum period of five years.

This decision follows a rigorous pre-qualification and tender exercise, carried out in accordance with EC Procurement Guidelines.

Participants in Foinaven phase 1 are BP Exploration (Operator) 72% and Shell UK Limited 28%.

Foinaven is located some 190 kilometres to the north west of Orkney, mainly in UK block 204/24a.

Foinaven phase 1 is based on Golar-Nor's Floating Production Storage and Offtake (FPSO) vessel "Petrojarl IV" and oil production is scheduled for the first quarter of 1996.

The Petrojarl IV will be able to store some 300,000 barrels of oil and "dedicated" shuttle tankers will be loaded every four days or so, prior to sailing to port to discharge the oil into storage.

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