Williams Partners Signs Agreements with Hess, Chevron for Gulfstar FPS

abarrelfullabarrelfull wrote on 26 Oct 2011 07:17
Tags: chevron gulf-of-mexico hess services usa williams

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Williams Partners L.P. (NYSE: WPZ) announced today that it has signed multiple agreements with Hess Corporation (NYSE: HES) and Chevron (NYSE: CVX) to provide production handling, export pipeline, oil and gas gathering and gas processing services in the Tubular Bells field development located in the eastern deepwater Gulf of Mexico.

Hess and Chevron, owners of the Tubular Bells leases, will utilize Williams Partners' proprietary floating production system, Gulfstar FPS™. Williams Partners expects Gulfstar FPS to be capable of serving as a central host facility for other deepwater prospects in the area.

A Letter of Award for the project was announced in a May 24, 2011, news release.

Williams Partners will design, construct and install its Gulfstar FPS with a capacity of 60,000 barrels of oil per day, up to 200 million cubic feet of natural gas per day (MMcf/d) and the capability to provide seawater injection services. The facility is a spar-based floating production system that utilizes traditional three-level topsides mated to a classic spar hull. This standard design approach will allow customers to reduce their cycle time from discovery to first oil.

From sanctioning the project to completion, Gulfstar FPS is expected to be delivered in 30 months.

"This agreement demonstrates the value that deepwater producers place on reducing cycle time and costs. It also reflects the commercial benefit of our reputation for reliability and our commitment to safety – both in our deployment of innovative solutions and in our operations. We are delivering a solution that has positive, meaningful bottom-line impact for producers," said Rory Miller, president of Williams Partners' midstream business.

This Gulfstar FPS will be the first spar-based floating production system with major components to be built entirely in the U.S. Gulf Coast area.

"This project will create approximately 1,000 U.S. jobs for 30 months," said Miller. "These jobs are spread from coast to coast across more than 20 states."

Fabrication of the hull will take place in Aransas Pass, Texas. The topsides fabrication will take place in Houma, La.

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