Equinor has agreed a deal with Chevron to acquire the latterâs 40% interest in the Rosebank field in the West of Shetlands. The field, located over licences P1026, P1272 and P1191, has been planned for development following submission of the Environmental Statement for the field in 2018. Equinor previously held interest in the asset which is one of the UKâs largest undeveloped fields. The deal is subject to regulatory approval.  The concept for development submitted by Chevron was for an FPSO with 17 wells. Oil will be transported via a shuttle tanker and gas will be exported via a new 236 km pipeline tied-into the Shetland Island Regional Gas Export System (SIRGE). The ES looked at the development of the Colsay reservoirs with nine producers and eight water injectors. Installation of the pipeline is scheduled for late Q1 2022, followed by the installation of the manifolds and drilling of the wells during Q2 2022. The final wells are expected to be completed by 2027. First oil is planned for late 2024 with peak production in 2025 before a steady decline in 2033, and gas production will peak in 2031.  It is understood that Chevron extended its re-tender for the Rosebank field development drilling campaign during 2018. The plan was to drill 11 top holes commencing in 2020 until 2021 lasting approximately 120 days. Then the main drilling programme would commence in 2022 with the drilling of the 17 subsea wells. A Final Investment Decision for the project was planned for early 2019.  Rosebank was discovered in August 2004 by well 213/27-1Z which encountered two reservoirs â Rosebank and Lochnagar - with a total net pay of 52 m. Rosebank has a Paleocene reservoir and Lochnagar has an Upper Jurassic reservoir. Appraisal well 205/1-1, drilled in 2007 on the Rosebank structure, tested 6,000 b/d of good quality oil with API values of 37Â°. The field is situated in water depths of approximately 1,100 m. Between April and August 2011 a 350 sq km High Density 3D OBN survey was performed over Rosebank with SeaBirdâs âMunin Explorerâ. This was the second phase of the Rosebank High Density 3D survey. The first stage was shot in 2010 and covered an area of 256 sq km. Front End Engineering Design studies commenced in 2012. In 2013 Chevron submitted and Environmental Statement for the project. The produced oil was to be shuttled by tanker, while gas will be exported via a newly installed pipeline. Back when the Environmental Statement was submitted it was thought that peak oil production was expected to reach 82,000 b/d with peak gas production, expected three years after the initial oil production, at 134 MMcf/d.   Interest in the Rosebank field will be held by Equinor (40% + operator), Suncor Energy (30%), Siccar Point Energy (20%) and INEOS (10%).
Equinor has agreed a deal with Chevron to acquire the latterâs 40% interest in the Rosebank field in the West of Shetlands. The field, located over licences P1026, P1272 and P1191, has been planned for development following submission of the Environmental Statement for the field in 2018.