Chevron to proceed with UK North Sea Rosebank project

Chevron North Sea Ltd. will proceed with letting front-end engineering and design contracts on the Rosebank oil and gas project on Blocks 213/26 and 213/27, about 80 miles northwest of the Sheltland Islands in 3,700 ft of water, Chevron Corp. reported July 9.

The project will include a floating production, storage, and offloading vessel along with subsea facilities and a gas export pipeline. Rosebank field is believed to contain 240 million bbl of oil equivalent resources, Chevron said, calling it, “one of the last great resource areas for the UK.”

Chevron North Sea, operator of offshore Rosebank appraisal well 205/1-1 in the Faroe-Shetland Channel, west of Shetland, reported that well tested 6,600 b/d (OGJ Online, July 19, 2007).

Consortium partners atr Chevron 40%, Statoil (UK) Ltd. 30%, OMV (UK) Ltd. 20%, and Dong Exploration & Production (UK) Ltd. 10%.

The partners' August 2004 Rosebank-Lochnagar discovery well, in 3,600 ft of water 126 km off Esha Ness, Shetland, found two 27-36° gravity oil and gas accumulations in a total 169 ft of net pay (OGJ Online, Aug. 25, 2005).

The announcement to proceed with Rosebank comes after UK Chancellor George Osborne in March announced measures to encourage deepwater oil and gas investments.

Brenda Dulaney, managing director of Chevron’s European exploration and production division, told the Wall Street Journal, “The efforts by the UK government to stimulate development in this important region have enabled the progression of this project and underline the importance of industry and government collaboration.”

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