This strategy could be used by Hurricane Energy......3 Sep 2020 08:49
From Jadestone's RNS today....Food for BoD thought....(Note:Just a copied comment, not a ramp!)
"Jadestone's 100% owned and operated Stag oilfield produces crude oil via a fixed leg, central processing facility platform, which, since the field's original development, has been offloaded to a floating storage and offloading vessel ("FSO"), the Dampier Spirit, which is moored to a catenary anchor leg mooring buoy. In May 2020, the owner of the Dampier Spirit advised the Company of its intention to retire the Dampier Spirit later in 2020, and, as required under the terms of their agreement with Jadestone, they have been unable to provide a suitable replacement vessel.
As a consequence, the Company has developed a new operating strategy, utilising offtake tankers to directly offload Stag crude oil, in place of the existing long term leased FSO. To implement this strategy Jadestone has awarded a contract to a respected international tanker provider who will supply modern double hulled tankers, operated to the highest safety and environmental standards. This new operating model has significant environmental risk mitigants over the existing model, by eliminating the need for ship to ship oil transfers in field. These arrangements are expected to realise annual savings of approximately 20% over the current FSO operation.
The first offtake tanker is scheduled to arrive in the field coincident with the Dampier Spirit departure in mid September 2020. Ultimately multiple offtake tankers will rotate through the field on a schedule that optimises production continuity."