Chevron, operator of the Rosebank project, have announced that the project is entering the Front End Engineering and Design (FEED) phase.
The field, which DONG Energy has a 10% share in, was discovered in 2004 and is estimated to contain total potentially recoverable oil-equivalent resources of 240 million barrels.
“This is an important step forward for the Rosebank project in the West of Shetlands and we welcome the news from our partner and the operator Chevron," says Brent Cheshire, Head of Oil & Gas in the United Kingdom.
“DONG Energy is one of the major licence holders and developers of the West of Shetland region, which holds a significant portion of the UK’s undeveloped oil and gas resources. Rosebank is one of the projects that we are involved in that is more advanced and the FEED studies are a real step forwards.”
Will deliver positive contributions
The Chevron-operated Rosebank project is located on the U.K. Continental Shelf, 81 miles (130 kilometres) northwest of the Shetland Islands, in water depths of approximately 3,700 feet (1,100 meters). The project will include a Floating Production, Storage and Offloading (FPSO) vessel, production and water injection wells, subsea facilities and a gas export pipeline.
Brenda Dulaney, Managing Director, Chevron Upstream Europe says:
“The fiscal framework put in place by the U.K. government, to stimulate development in this important region, has enabled the progression of this project and underlines the importance of industry and government collaboration. Rosebank will deliver positive contributions to the U.K. economy through employment, production, tax revenue and enhanced energy security for the country.”