Brynhild delay frustrates Lundin

Lundin Petroleum has announced that the Brynhild project is progressing at a slower pace than anticipated due to commissioning issues related to the FPSO operated by Shell on the Pierce Field in the UK sector.

 

The upstream portion of the Brynhild project operated by Lundin Petroleum is progressing satisfactorily, but the production start-up is now expected late in the third quarter of 2014, Lundin said in a press release.

The Brynhild field offshore Norway is a subsea tie-back to the Pierce field, operated by Shell (Enterprise Oil Ltd), in the UK sector. The production facility for the Pierce and Brynhild production is the Haewene Brim FPSO owned and operated by Bluewater owned Pierce Production Company Limited.

A comprehensive modification programme has been carried out on the Haewene Brim FPSO by owner Bluewater on behalf of the Pierce operator Shell in order to prepare for the introduction of hydrocarbons from the Brynhild field commingled with the existing Pierce field.

The completed scope for the modifications includes upgrading of the topside heaters, significant upgrades of metering systems, installation of upgraded subsea control system and replacement of the risers. Whilst the upgrades of the topside and subsea equipment as well as the risers’ installations have been completed, ongoing commissioning activities for start-up have taken longer than anticipated to be completed prior to the re-introduction of hydrocarbons into the FPSO.

As a result of the revised Brynhild first oil date, Lundin Petroleum’s net production for 2014 is now expected to be in the range 25,000 – 30,000 barrels of oil equivalent per day (boepd).

Ashley Heppenstall, President and CEO of Lundin Petroleum, commented: “We are disappointed and frustrated that the Haewene Brim FPSO is still not ready to accept Brynhild production. Nevertheless we remain confident regarding the productivity of the Brynhild reservoir and the project delays have had no impact on Brynhild reserves. The delay in first production has clearly impacted our 2014 production guidance but we still retain our production guidance for 2015 of approximately 50,000 boepd”

Lundin Norway AS, a wholly owned subsidiary of Lundin Petroleum AB, is the operator of PL148 with a 90 percent interest. The partner is Talisman Energy Norge with a 10 percent interest.

Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of world-class assets primarily located in Europe and South East Asia. The Company is listed at the NASDAQ OMX, Stockholm (ticker “LUPE”) and at the Toronto Stock Exchange (TSX) (Ticker “LUP”). Lundin Petroleum has proven and probable reserves of 194 million barrels of oil equivalent (MMboe).

 

Press Release, June 09, 2014

 

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