Tulip Oil makes FID for North Sea gas field

Tulip Oil Netherlands Offshore B.V. has made the Final Investment Decision (FID) for the development of the Q10 gas field located in the North Sea.

Tulip Oil Netherlands Offshore B.V. (Tulip Oil) is a subsidiary of Tulip Oil Holding B.V., a privately-held exploration and production operator based in The Hague. Tulip Oil is the license holder (60% interest) and operator of the Q7 and Q10a licenses along with its partner EBN (40%).

The Q10 gas field was discovered in 2015 and lies 20km offshore the Netherlands in a shallow water environment.

Tulip Oil said on Tuesday, January 16 it would now proceed with the development of the Q10. The field is expected to become a major offshore producing asset in the Netherlands.

According to the company, the Q10 gas field development will encompass an unmanned offshore platform (Q10-A) with a pipeline tie back to the TAQA-operated P15d platform to the south east of the platform. First gas is expected in 2019. The project main components will be executed under EPCI contracts.

The pipeline scope has been awarded to Allseas and the production platform scope to Heerema. Drilling of the development wells will be done using a Paragon rig.

Imad Mohsen, Chief Executive Officer stated: “This marks a major step forward for both Tulip and our partner, Energie Beheer Nederland B.V. (EBN), to put Q10 into production, we are happy to see our assets moving forward into development and generate significant cashflow.”

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