FPSO Joko Tole enters start-up preparation stage
Friday, May 11 2012 - 04:20 AM WIB
Global provider of floating production services BW Offshore reported on Thursday that FPSO Joko Tole is currently in final commissioning stage and start-up preparation is ongoing.
Joko Tole is deployed to support production in Terang, Sirasun and Batur (TSB) fields within Kangean Block offshore East Java.
The FPSO is designed to process 340 million standard cubic feet per day (mmscfd) of gas from the TSB gas fields in the Kangean Block, operated by Kangean Energy Indonesia (KEI).
The TSB fields are being developed with planned peak production of 300 mmscfd.
The FPSO is under ten year firm contract, which will commence after facility acceptance with options for additional four years.
According to BW Offshore, total investment to construct and develop Joko Tole is around US$400 million. Completion of project financing of Joko Tole is targeted for Q3 2012, the company said.
The company also identified opportunity to lease FPSOs in a number of projects in 2012, two of them are in Indonesia; Madura FPSO, operated by CNOOC/Husky and Ande Ande Lumut FPSO operated by AWE Limited, with award seen in Q4, 2012.
Editing by David Mustakim