Houston based drilling and floating production firm Northern Offshore is still considering options for its sole floating production platform (FPF), including divestment, as operator EnQuest eyes additional tie-ins to the unit.
The semisubmersible Northern Producer FPF is used by EnQuest on the Dons fields in the UK North Sea.
Northern Offshore previously said EnQuest is planning an addition well on the DON SW field later in the year and that EnQuest was also producing a field development plan (FDP) for the Don North East field.
Yesterday, EnQuest confirmed it had recently submitted a development plan for Ythan, on the Don North East license, awarded out of round earlier this year.
“Should the FDP result in additional development drilling in Don NE, earnings from the Northern Producer could increase substantially,” Gary W. Casswell, Northern Offshore’s president and CEO said previously, announcing that the firm's board of directors had requested that management investigate the possibility of spinning off the Northern Producer and its life-of-field contract.
Today, Casswell said: "As a result of this information, the company will further review the various divestment alternatives available to unlock value for our shareholders from the Northern Producer, including a sale or the potential spin-off which was previously announced.”
The Northern Producer was originally built as a drilling rig of Aker H-3 design prior to conversion to a floating production facility (FPF) in 1991. It has 10 columns and two hulls with the columns and four ‘A’ shaped bracing structures supporting the rectangular deck.
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