SBM Offshore wins FEED for Premier Oil Sea Lion FPSO

1/13/2016

LONDON -- Premier Oil has awarded SBM Offshore the Front-End Engineering and Design (FEED) contract for an FPSO for Phase 1 of its Sea Lion development in the North Falkland basin.

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The Sea Lion discovery lies to the north of the Falkland Islands. Image: Premier Oil.

The 18-month contract awarded to SBM Offshore covers the FEED elements of the proposed FPSO. The asset will be a converted FPSO with a throughput capacity of approximately 85,000 bopd and will operate in 450 m of water.

The proposed Phase 1 Sea Lion project, operated by Premier with Rockhopper Exploration as the joint venture partner, is located 220 km north of the Falkland Islands.

This first phase is subject to the final investment decision targeted for the end of the FEED in the second half of 2017. Subsequent phases to developing Sea Lion and the wider North Falkland basin reserves, utilizing FPSOs, are envisaged.

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