Hibiscus Petroleum (KLS: HIBISCS) is preparing a number of subsea contracts in relation to its Teal West project in the UK North Sea.
Several deals are due to tender in the coming months, the North Sea Transition Authority’s (NSTA) energy pathfinder database shows, as the company cracks on with the scheme.
Teal West, a tieback to the Anasuria FPSO around 108 miles east of Aberdeen, holds an estimated four million-barrels of oil.
Initially it will consist of one production well, and potentially a water injection well and a further production well.
According to the NSTA portal, a contract for drill centre valve skid detailed engineering hit the shelves yesterday.
It will be followed by deals for subsea valves, and intervention workover control systems (IWOCS), due out September 1 and 15 respectively.
Finally, a contract for subsea umbilicals, risers and flowlines (SURF) installation services will go to market on October 1.
Specific values for the deals are not given, but they are all worth less than £25 million.
A letter of no objection to Hibiscus’s concept select was issued by the NSTA, then the Oil and Gas Authority, in November.
An oil development well is expected to be drilling in the second half of 2023, with subsea pipeline installation the following year and first oil from Teal West in mid-2024.
Hibiscus holds a 70% stake in the Teal West discovery – NEO Energy holds the remaining 30%.
Earlier this year, the Malaysian-headquartered operator said it was moving forward with plans for Teal West on an “accelerated schedule”.
Teal and Teal South are already two producing fields as part of the Anasuria cluster linked to the namesake FPSO.
Work to repair constrained production issues at the vessel have been being carried out in recent weeks after a critical component malfunctioned last year.
It has led to overall lower daily production rates, impacting opex per barrel of oil equivalent (boe) and 2022 offtake volumes.
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