UK-based brownfield services provider to the oil and gas industry Wood Group PSN (WGPSN) has received a life of field contract in North Sea, from Ithaca Energy.
Under the contract worth GBP140m ($200m), WGPSN will operate and deliver managed services to Ithaca’s Beatrice offshore platforms and Nigg onshore terminal until the end of their operating life.
The Beatrice field, located in the North Sea, is the largest oilfield in the Inner Moray Firth area with an estimated 485 MMbbls of stock tank barrels of oil.
In 2008, Ithaca signed an agreement to lease the Beatrice oilfield, the pipeline to shore and the Nigg storage facility from Talisman for a minimum period of 3 years.
The Beatrice oilfield has produced in excess of 163 MMbbls to date, while at the time of completion of the lease agreement with Talisman, the Alpha platform wells of Beatrice field were producing at about 1,500 barrels of oil per day.
The Beatrice oil platforms and Nigg onshore oil terminal commenced commercial operations in 1981 with an expected 30 year life span.