UK: Lybster Field Put on Production

UK: Lybster Field Put on Production

Trapoil , the independent oil and gas exploration and appraisal company focused on the UK Continental Shelf (“UKCS”) region of the North Sea, yesterday announced the start of production at its Lybster field situated on Block 11/24 – 3v2  (“Lybster”), which is operated by Caithness Oil Limited.

The Lybster production facilities have been installed and commissioned and commercial arrangements are in place to truck and sell the oil produced to ConocoPhillips at its Immingham refinery. Lybster was put on production on 2 May 2012 and the initial truckloads are expected to arrive at the Immingham refinery today. A further announcement will be made in due course, with respect to the anticipated volumes and production profiles, once production from Lybster has stabilised.

Trapoil holds a 35 per cent. carried interest in the P.1270 licence which formed part of the asset portfolio of Reach Oil & Gas Limited (“Reach”), acquired by the Company in July 2011. From the date of first production, Caithness is entitled to recover all development and operating costs attributable to Trapoil’s carried interest out of net revenue achieved from the sale of Trapoil’s percentage interest share of the crude oil produced. Until such costs have been fully recovered, Trapoil will receive approximately 20 per cent. of net petroleum revenues attributable to its carried interest in Lybster.

Source: Trapoil, May 4, 2012

Share this article

Follow Offshore Energy Today

Events>

<< Feb 2016 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 1 2 3 4 5 6

Floating LNG

The conference will provide a unique opportunity and a platform for participants to optimise activities and ensure project sustainability…

read more >

International Petroleum Week 2016

International Petroleum (IP) Week, hosted by the Energy Institute EI) is widely recognized as one of the major annual international oil and gas events, where decision makers gather to debate, learn and help shape the future direction of the industry. IP Week attracts delegates from over 50 countries every year.

More Info

read more >

Topsides, Platforms & Hulls

Topsides, Platforms & Hulls Conference & Exhibition is the offshore industry’s only event dedicated to the topsides, platforms and hulls…

read more >

East Africa Oil & Gas Summit & Exhibition (EAOGS)

Now in its 4th year EAOGS once again has the official endorsement of the Ministry of Energy & Petroleum Kenya and this year EAOGS will build…

read more >

Jobs>

Assistant Driller

Maersk Drilling Norge AS was established in 1990 and employs a staff of approximately 1000 people.

apply

QC Coordinator Offshore

Do you attach great importance to quality and do you have an affinity with offshore projects? Then read about what Van Oord can offer you.

apply

Electrician

For one of our clients we are looking for a Ships Electrician. Our client is a company with worldwide activities. You will work in a rotation of 4 till 6 weeks on and off.

apply