Start up on the ConocoPhillips-operated central North Sea Jasmine field is now not expected until 2013.
It had been hoped the high pressure, high temperature field, described as one of the UK’s largest finds in the last 10 years, could come online in the fourth quarter of this year.
ConocoPhillips would not comment on the delay. In an April investor update, Ryan Lance, chairman and chief executive, said: “We have two of eight project development wells drilled, and the subsurface results are exceeding our expectations.
“This year, we will spend about $400million on the project, and it has returns greater than 20% with strong cash margins.
“This represents an example of how we have used our significant experience, data, and operating results to find close-in opportunities that will regenerate growth in the central North Sea area. We believe other opportunities will arise over time.”
Jasmine was found in 2006 and has been estimated to have recoverable reserves of more than 100million barrels oil equivalent.
The development, 8km (5.5 miles) west of the Judy platform, will comprise a Jasmine wellhead platform (WHP) and a bridge-linked accommodation and utility platform, a Judy riser and separation platform (JRP) with additional Judy well slots bridge-linked to the existing Judy platform and a multiphase pipeline from the WHP to the JRP.
The core development was expected to produce at an annual gross peak sales rate of more than 88,000 boe per day with peak production expected to be achieved in 2013.
Jasmine is part of the J-Block first round licence that was awarded to ConocoPhillips in 1964 and is the fourth development in J-Block after Judy, Joanne and Jade.
Load-out of the riser platform jacket and the living quarter jackets were scheduled in April this year from Rosetti Marino’s Ravenna yard in Italy.