Heads of Agreement Signed for Full, Life-of-Field, Development of the Kyle Oil Field, UK North Sea

abarrelfullabarrelfull wrote on 24 Nov 2014 07:20

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18 July 2000

A Heads of Agreement (the “Agreement”) has been signed for the full, life-of-field, development of the Kyle Oil Field in the UK North Sea via existing infrastructure associated with the nearby Curlew Field, which is owned by Shell UK Limited (Shell) and Esso Exploration and Production Limited UK Limited.

Acting as Operator, for and on behalf of the Kyle Field owners, Ranger Oil (U.K.) Limited (Ranger) has signed the Agreement with two parties: Shell UK Limited (Shell) and Maersk Contractors (Maersk). Shell was acting on behalf of the owners of the Curlew Field and the Shell Esso Gas and Liquids Processing (SEGAL) System. Maersk is the owner and operator of the Maersk Curlew Floating, Production, Storage and Offloading (FPSO) facility.

The Agreement is subject to normal industry terms and conditions including continuing satisfactory results from the current field appraisal program and the receipt of regulatory approval from the relevant Government authorities in the UK.

First oil from the full field development of the Kyle Field is expected to go through the Curlew Facility in March 2001. During the early years of Kyle production the Maersk Curlew FPSO will continue to receive contemporaneous production from the Shelloperated Curlew Field, some 19 km south of the Kyle Field (Attachment 1).

The beneficial owners of the Kyle Field are Roc Oil (UK) Limited (12.5%) a wholly owned subsidiary of ROC, Ranger (20%) and related company, Ranger Oil (PC) Limited (20%), Premier Pict Petroleum Limited (35%), and Bow Valley Energy (12.5%).

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