ASIA

PanPac field enters FEED

WOOD Group has been awarded the front-end engineering and design contract for the subsea developm...

PanPac field enters FEED

Wood Group Kenny will carry out comprehensive flow assurance studies and full FEED engineering of the subsea system and structures, risers, flowlines, and power and control umbilicals.

Work on the subsea FEED will be carried out from WGK's Kuala Lumpur office and supported by other WGK Asia Pacific offices.

This follows the award of the top tensioned riser FEED contract for design of the dry tree production/injection and drilling riser systems.

"Winning both of these contracts underlines our position as the international experts in FEED, particularly in riser and subsea specialties," WGK CEO Bob MacDonald said.

"We are leveraging our global network of engineers to deliver the most effective solutions for the Ca Rong Do development.

"These contracts also continue Wood Group's strong relationship with Talisman Energy [Repsol], which spans continents: from this key greenfield project in Vietnam; to operations and maintenance on UK North Sea assets."

The CRD field is estimated to host around 67 million barrels of oil equivalent, or 3.35MMboe net to Pan Pac.

The final development plan will involve a tension leg wellhead platform and a floating production storage and offloading vessel.

The oil development assumes initial production of 30,000 barrels per day with six production wells and four water injection wells.

Future gas production assumes a plateau production of 50 million cubic feet per day for six years from four producing wells, following ramp up, with additional tail gas sales potential - although there are no pipeline facilities at the moment, and there are no immediate plans for development of the gas phase.

The field contains 2C resources 45.3MMbbl of oil, 172 billion cubic feet of gas and 2.3MMbbl of condensate.

Undrilled near field prospects at North East CRD and West CRD provide possible upside oil and gas potential and in the case of success could be tied back to a CRD development.

PanPac will reduce its equity to 4.25% if PetroVietnam takes up its back-in rights.

First oil is predicted for 2018, assuming approvals and a final investment decision are taken at the end of this year.

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