EOCP

Emas Offshore Construction and Production (EOCP) has entered an exclusive interim agreement for the engineering study of a floating production, storage and offloading vessel (FPSO) for the Perth field in the North Sea.

The agreement was signed by the owners of the Perth field, which comprise DEO Petroleum UK, Faroe Petroleum UK and Atlantic Petroleum UK (the Perth Group).

EOCP is a 100% owned subsidiary of EOC Limited.

EOC Limited CEO Lim Kwee Keong said that the agreement with the Perth Group will aid the company’s initiative effort into the North Sea, a major area of potential for the deployment of FPSOs.

"We are confident that EOCP’s experienced professionals will deliver the high standards necessary for the harsh and demanding operating environment in the North Sea," said Keong.

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Under the interim agreement, EOCP will carry out detailed engineering to further refine the concept established during the front-end engineering and design studies for the FPSO.

The vessel is to be deployed in the Perth field development in block 15/21a of the UK Continental Shelf.

The FPSO and its processing capabilities will be designed to accommodate the several phases of development drilling planned for the Perth field.

It will also have extra capacity to handle the anticipated tiebacks from third-party stranded fields nearby.

Furthermore, the parties have agreed commercial and other terms for the charter, which they plan to enter on satisfaction of certain conditions, including project sanction by the UK Department of Energy & Climate Change.

EOCP is a wholly owned subsidiary of Singapore-based contractor EOC.

Caption: EOCP to carry out a UK North Sea FPSO study for the Perth field.