By the OGJ Online Staff
HOUSTON, July 12 -- PanCanadian Petroleum Ltd. awarded a contract for the front-end engineering design (FEED) of its Deep Panuke natural gas field development to a joint venture of contracting companies.
The amount of the contract awarded to ACCENT-Saipem Energy Joint Venture was not disclosed. The $1 billion Deep Panuke field is 250 km off Nova Scotia.
"Starting the FEED study is a very important milestone as we move towards production at Deep Panuke. The study will include the preliminary design of process equipment, structures and pipelines, and will enable us to determine optimum development plans," said Larry LeBlanc, PanCanadian's vice-president, East Coast operations.
ACCENT-Saipem, which has the ongoing engineering services contract for the Sable Offshore Energy Project, expects to complete the Deep Panuke study by the first quarter of 2002.
PanCanadian is the sole owner of Deep Panuke. It plans to file a development plan with the Canada-Nova Scotia Offshore Petroleum Board in the fourth quarter 2001.
