Serica Energy To Carry Out FEED For Bridge Linked Platform

15th Jun 2010 07:54

LONDON (Dow Jones)--Serica Energy PLC (SQZ.LN), said Tuesday that an agreement has been reached with BG International Ltd and Dana Petroleum Ltd (DNX), whereby BG will carry out Front End Engineering and Design or FEED work for a Bridge Linked Platform that will connect with the Lomond platform and provide gas and condensate reception facilities for Columbus and Arran production. MAIN FACTS: -The Columbus field, has now been shown to extend into the adjacent Block 23/21. -The licence holders of both blocks will share the costs of the Columbus portion of FEED for the BLP and, under a separate agreement, have agreed to share the costs of the Columbus subsea facilities and to submit a new Columbus Field Development Plan to the U.K. Department of Energy and Climate Change. -Serica has been appointed the Operator by the Columbus Owners to manage the development process to the point of project sanction on their behalf. -FEED is already underway and it is expected that all FEED work will be completed in the third quarter of 2010 concurrent with FDP preparation and submission. -Terms for the use of Lomond as processing host and export point for the Columbus produced fluids have reached an advanced stage of negotiation. -Project sanction is programmed for the end of 2010. Shares closed Monday at 73.0 pence. -By Razak Musah Baba, Dow Jones Newswires; +44-20-7842-9275; [email protected] (END) Dow Jones Newswires June 15, 2010 02:54 ET (06:54 GMT)