Page 17 - EurOil Week 32

EurOil PROJECTS & COMPANIES EurOil

Tyra topsides removed

DENMARK TOPSIDES have been removed at Denmark’s in July 2022.
largest gas field, Tyra, which is currently under- “Today marks an important milestone for
The field is undergoing going a $3.2bn redevelopment project. Noreco and our partners with the successful
$3.2bn redevelopment Tyra previously accounted for over 90% of completion of the offshore decommissioning
programme. Danish gas supply but production was halted in campaign,” Noreco’s chief operating officer, Atle
September last year so its French operator Total Sonesen, said in a statement.
could replace most of its platforms. Over the He noted that Total had “adapted quickly to
years since the field’s launch in 1984, the plat- the challenging market conditions,” and so the
forms had subsided by more than 5 metres. project remained on schedule. There have been
The topsides of Tyra East and Tyra West delays at many North Sea projects, due to spend-
platforms were removed in early August by All- ing cuts and travel restrictions put in place to
seas’ Pioneering Spirit crane ship, Total’s project prevent the spread of the coronavirus (COVID-
partner, Norway’s Noreco, said on August 7. 19) pandemic.
They will be taken apart at a yard in Frederik- Tyra’s shutdown means Denmark is now a net
shavn, with 95% of their materials expected to importer of gas. It gets its supplies from neigh-
be recycled. bouring Germany, which in turn receives gas
This draws a line under the decommissioning from Russia, Norway, the Netherlands and the
stage of the project. Total and its partners, which UK.
also include Denmark’s Nordsofonden, plan Pioneering Spirit is the world’s largest vessel
to install new topsides and jacket extensions, by gross tonnage. The ship was able to lift Tyra’s
mounted onto the original Tyra East and Tyra heaviest structure, the 14,000-tonne Tyra East
West jackets. Tyra is due to resume production topsides, in mere seconds, Allseas said. ™

Hurricane stock slumps on risk

of Lancaster downgrade

UK SHARES in Hurricane Energy slumped on Hurricane’s wholly owned Lancaster field
August 5, after the London-listed junior warned was discovered in 2009 and was understood
Hurricane has suffered that its reserve estimates for the Lancaster oil- to hold over 500mn barrels of recoverable oil.
setbacks at its flagship field could require a downgrade. Hurricane achieved first oil at its 100%-owned
asset. Hurricane’s stock was down 16% at Lancaster field in June last year, after investing
GBP0.0515 per share by midday. This was after some $475mn in an early production phase. This
the firm posted a statement saying that initial phase involves two wells connected to the Aoka
results from an ongoing technical review found Mizu floating production storage and offloading
that oil water contact at Lancaster was shallower (FPSO) vessel.
than expected. The company reported a major setback in
“Consequently, the company believes that late May, revealing that it had shut in one of the
is a risk of a material downgrade to estimated Lancaster wells because of flow instability. It had
reserves attributable to the Lancaster early pro- been targeting an output of 20,000 barrels per
duction system, and that there would also be a day (bpd), but said this level was no longer con-
material downgrade to estimated contingent sidered possible.
resources across the West of Shetland portfo- Hurricane also said on August 5 that the
lio,” it said. “This assessment does not take into Aoka Mizu FPSO had undergone a controlled
account any production enhancement options shutdown, so that an inspection could take
for the Lancaster field which are currently under place. The inspection has identified necessary
evaluation.” repairs, which have been underway in recent
The technical review is due to be presented on days, it said.
or before September 11, when the company will Prior to the shutdown, the field had been pro-
publish its interim results for 2020. ducing at a rate of 17,000 bpd. ™

Week 32 12•August•2020 www. NEWSBASE .com P17