Dana Petroleum's Western Isles floating production unit will not be on stream until late 2017, some two years later than originally planned, it was confirmed today.
In a statement, China's Cosco Corp (Singapore) said it and a European shipowner had mutually agreed to extend the delivery date of the FPSO, originally scheduled for delivery in Q2 2015, to Q1 2017, due to changes in technical requirements from the shipowner.
Dana Petroleum confirmed to OE that the vessel in question is their Western Isles Sevan design FPSO, which is now US$400 million over budget.
A spokesman for Dana said: "I can confirm the project for for Western Isles is now around $2 billion and first oil is expected in late 2017."
The Western Isles project will develop two fields in the UK northern North Sea, Block 210/24a, about 90 km north-east of Shetland.
The water depth at site is about 160m. The development will comprise five subsea production wells and four water injection wells tied back to the centrally moored FPSO. Oil will be exported by shuttle tanker and gas will be exported through a dedicated pipeline to the existing Tern platform.
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Balmoral designs Western Isles mooring connection system
Video
Watch a video about the Dana Western Isles development
Image: Work on the Western Isles FPSO progresses in COSCO's yard.
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