Premier Oil, a London-listed oil and gas company, has informed that the platform construction for the Tolmount Main gas project, located in the Southern North Sea, will start in December.
Premier said in its trading and operations update on Thursday that the Tolmount Main gas project was progressing according to plan.
The company added that engineering and construction services company Rosetti Marino completed the award of the main long lead packages for the platform and first steel is on track to be cut in December.
Also, a drilling contract was awarded to Ensco in September with the first of the four development wells scheduled to come on-stream during the fourth quarter of 2020.
According to Premier, preparatory work is underway ahead of drilling the high-value Tolmount East appraisal well scheduled for mid-2019.
The trading and operations update also stated that Premier had plans to acquire 3D seismic across the Greater Tolmount Area in the first half of 2019 to enable maturation of the Tolmount Far East well location.
Tony Durrant, chief executive of Premier, said: “Premier is now generating significant free cash flow. Our portfolio is currently producing 85-90 kboepd, our low-cost base has been maintained and our capital spend is tightly controlled.
“We look forward to the appraisal of our world-class Zama discovery starting later this month, and the commencement of construction activities for our high-value Tolmount gas project in December.”
To remind, the partners in the Tolmount gas field, Premier with 50 percent as the operator and Dana Petroleum with 50 percent, sanctioned the project back in August. The sanction was preceded by the approval of the development by Premier back in June.
At the time of sanction, Premier said that the Tolmount Main gas field was expected to produce around 500 Bcf of gas (96 mmboe) with peak production of up to 300 mmscfd (58 kboepd).
Offshore Energy Today Staff