Fossil Energy – Rosbank Filed
Equinor and Altera signed an agreement for the use of the Petrojarl Knarr FPSO on the Rosebank field in the UK North Sea.
The Rosebank field, which could be the next destination for the still-under contract Petrojarl Knarr FPSO, is located 80 miles northwest of the Shetland Islands. It is operated by Equinor, with Suncor and Siccar Point as its partners. The initial discovery well was drilled by Chevron in 2004. Equinor bought the U.S. company’s stake in 2019.
It is dubbed as one of the largest undeveloped oil fields in the North Sea, with more than 300 million barrels of recoverable oil.
The Petrojarl Knarr FPSO is currently busy with Shell on the Knarr field. Its previous contract extension was supposed to keep it busy until March this year but Altera’s financial report claims that the FPSO will stop production around May 1, and begin decommissioning activities.
There has been no indication that Shell would be extending the deal as of yet. To remind, Shell submitted a plan to close the field in 2020 but the final end of field life timing has not been set.