PETALING JAYA: Dagang Nexchange Bhd’s (DNeX) subsidiary Ping Petroleum UK PLC has taken delivery of the Sevan Hummingbird floating production, storage and offloading (FPSO) vessel from marine energy transportation company, Teekay Corp.
DNeX group managing director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said the group anticipates full operational deployment of the FPSO on the Avalon field development project in the North Sea by 2025.
“We have a tangible asset ready with the newly acquired Sevan Hummingbird. Our next step is to secure approval for our field development plan, which will be submitted in the coming months,” he said yesterday.
Ping has received a “no objection” letter from the North Sea Transition Authority in March and was then granted a 19-month extension from the authority to the second term of the P2006 licence containing the Avalon field.
“The proposed development concept includes plans to deploy the Sevan Hummingbird FPSO at the Avalon field which will be modified to facilitate electrification from an external, low-carbon source,” DNeX said.
Ping is also evaluating options to connect the FPSO to a dedicated floating offshore wind turbine to power the facility which will help minimise diesel usage and associated greenhouse gas emissions.
The planned development allows Ping to expand and diversify its portfolio of producing assets in full compliance with the United Kingdom’s energy security and net-zero targets.
Commissioned in 2008, the Sevan Hummingbird FPSO is a 60 metre-diameter facility with a storage capacity of 270,000 barrels of oil and is capable of producing up to 30,000 barrels of oil per day, supporting up to 47 offshore personnel.
With a total estimated ultimate recovery of 23 million barrels of oil reserves over a period of 12 years, oil production from Avalon, Ping’s second oilfield asset, is expected to come onstream in 2025.