Oil company ConocoPhillips plans to bring the Jasmine discovery in the central North Sea into production in the next couple of years.
The field found in 2006 is described as one of the UK’s largest finds in the last 10 years. Total recoverable reserves are expected to be more than 100million barrels of oil equivalent.
Development costs for phase one are estimated at £1.9billion and the project will include three platforms, one of them for accommodation.
Contracts have already been awarded to some companies including Worley Parsons, AMEC and Subsea 7.
First production, anticipated in the fourth quarter of 2012, is forecast to peak at more than 88,000 barrels of oil equivalent per day.
The Jasmine development will have a core offshore crew of 72 people.
ConocoPhillips said yesterday that approval had been received from the UK Government for phase one.
Energy Minister Charles Hendry said: ‘Even as we move towards a less carbon-intensive future, oil and gas are set to remain a vital part of our energy system for years to come.
“We are determined to make the UK one of the best places in the world to invest in energy, so it is welcome that opportunities of this size are coming forward in UK waters. This project will help ensure we have secure energy supplies and support many jobs.”
Jasmine is part of the J-Block licence awarded to ConocoPhillips in 1964 and is the fourth development after Judy, Joanne and Jade.
Jasmine has a high-pressure/high-temperature gas-condensate reservoir and production will be tied back to the Judy platform.
Paul Warwick, president for UK and Africa with ConocoPhillips, said: “Developing Jasmine to tie-in effectively to J-Block’s existing infrastructure demonstrates that companies on the UK continental shelf still have opportunities to maximise production of their reserves and can continue to add value directly or indirectly to the UK supply chain. The development is another step towards our strategy of prolonged and efficient production from the North Sea.”
Phase one at Jasmine could be followed by two more in the years ahead.
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