Jersey Oil and Gas has, alongside its other Buchan field partners, agreed the acquisition of the Western Isles floating production, storage and offloading (FPSO) vessel.
Western Isles has been operational since 2017, located in the North Sea, and it will be deployed in the planned redevelopment of the Buchan field. The FPSO was engineered, constructed and completed by COSCO Shipyard Group Co. in Qidong, China.
It comes as the Buchan partners are advancing at pace the front-end engineering and design for the project, enabling the field development plan which is slated for approval in 2024.
“Finalising the terms for the joint venture partners to acquire the FPSO, which is less than eight years old and requires relatively modest adaptation for our planned GBA redevelopment, is a tremendous milestone for the project,” Jersey chief executive Andrew Benitz said.
(Source and image: Jersey Oil and gas – Western Isles FPSO)