Lundin Petroleum has been forced to cut its production forecasts after admitting it will now not see first oil from the Brynhild North Sea field until the middle of next year.
The company said it expected production for the year to come in at the bottom of its 33,000-38,000 barrels of oil equivalent per day forecast after delays in getting the Haewene Brim FPSO ready for the field put back the start of output from the Norwegian site.
“The FPSO modification works to receive Brynhild production and to extend the field life of Pierce have now been completed but are about two months behind schedule,” said chief executive Ashley Heppenstall.
“The delays have now taken us into the winter weather window and we are therefore exposed to an increased weather downtime risk in respect of the offshore installation work.”
The news comes as the company saw profits fall to just £1.05million, compared to £27.9million the year previously, largely down to a £27million impairment cost incurred on its Janglau and Ara discoveries in Malaysia after they were found to be uneconomic.
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