Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Mid-tier UK North Sea oil and gas Waldorf Production is working with its auditors regarding concerns about potential liquidity shortfalls.
Waldorf said on Monday a key area of focus on the completion of the audit for the financial year ending 31 December 2023 is the assessment of going concern due to potential liquidity shortfalls over the going concern period to June 2025.
Link: https://www.upstreamonline.com/finance/uk-north-sea-producer-waldorf-facing-liquidity-concerns/2-1-1626872
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Is this what's causing the crash in the sp today?
In the update, it mentions: "...as well as preparation for a future tieback of the Bressay field’s gas cap to Kraken; displacing diesel that currently powers Kraken operations."
What does this mean exactly? What does "gas cap" here mean? Are they only partially tying back the gas portion to Kraken? Or is it being tied back exclusively to provide gas for the FPSO power, and no production whatsoever from the tie-back?
Hi all,
It just seems as if there will never been any more drilling at Kraken, and the hopes of Bressay / Bentley being tied-back to the Kraken development also seems to be thinning.
Why are Enquest not pursuing this? Is it purely due to EPL? I would think Kraken drilling would be a high netback prospect, no?
Reference is made to the announcements made by Bumi Armada Berhad ("Bumi Armada") on 2 June 2023, 21 June 2023 and 20 July 2023 respectively in relation to the unplanned shutdown of the Armada Kraken FPSO ("Kraken FPSO") owned by Bumi Armada’s wholly owned subsidiary, Armada Kraken Pte Ltd.
Bumi Armada wishes to announce that an additional HSP transformer has been reconditioned from the failed HSP transformer units. Following successful installation of this second reconditioned HSP transformer on the Armada Kraken FPSO, the vessel's operational performance has now been restored to pre-shutdown levels.
With the current three (3) working HSP transformers, redundancy is expected to be restored when a fourth new HSP transformer, which is estimated to arrive in September, is successfully installed on the Armada Kraken FPSO.
This announcement is dated 9 August 2023.
"I am pleased to confirm that we returned a refurbished HSP transformer unit to service on the 20th July, bringing us back to dual-train production, and we have been producing at c.90% of capacity since that date. We have a further transformer unit being refurbished currently, and would hope to bring that online in the coming weeks, bringing us back to full production."
Reference is made to the announcements made by Bumi Armada Berhad ("Bumi Armada") on 2 June 2023 and 21 June 2023 respectively in relation to the unplanned shutdown of the Armada Kraken FPSO ("Kraken FPSO") owned by Bumi Armada’s wholly owned subsidiary, Armada Kraken Pte Ltd.
Bumi Armada wishes to announce that one HSP transformer has been reconditioned from the failed HSP transformer units. Following successful installation of the reconditioned HSP transformer on the Armada Kraken FPSO, it commenced operating on 20 July 2023 such that the vessel's operational performance has returned to approximately 90% of pre-shutdown levels.
Bumi Armada will continue to announce material updates as and when they are known.
This announcement is dated 20 July 2023.
UpstreamOnline just published an article. First two paragraphs below. Does anyone have the full article?
The UK’s Health & Safety Executive (HSE) is examining the events that led to the shutdown several weeks ago of the Kraken offshore oilfield in the UK North Sea, which field operator EnQuest has still not acknowledged.
An HSE spokesperson told Upstream the agency is aware of the Kraken incident and is “currently looking into the circumstances leading to the shutdown”.
https://www.upstreamonline.com/exclusive/kraken-fpso-update-uk-safety-regulator-checking-events-that-led-to-shutdown/2-1-1468120
@MiteoCPS,
Someone else shared a response from Craig today.
"Production at the Kraken FPSO was shut-in on 20 May due to transformer failure, with a subsequent attempt to restart being unsuccessful. The plant was restarted on Sunday 11 June, as planned, initially on a phased basis starting with single train operations and 50% production, and working up to full production over the coming weeks."
"Towards" has been replaced by "to", he might be reading these forums!
Guys, I'd like to understand, is the EPL the reason as to why there has not been any further drilling at Kraken, or why Bressey / Bentley tie-backs are not being explored and developed with greater urgency?
Anything else that might bring these developments to pause, other than the EPL? If so, what?
1. He merely said they other 3 HSP transformers are "beyond repair". I asked a follow-up question to clarify if they are replaceable. I'm not very technically savvy with the ship systems. I also pointed this question to MitoeCPS since he seems more technically included. But yes, I had the same thought, if they can't be repaired, surely they can be replaced. I would hope so at least.
2. Not working on the Kraken. Works with a reputable industry newspaper.
I also spoke to someone else who's worked on FPSO fabrication. I am made to understand you typically order the HSP with the transformer in a package, lead time is roughly 6 to 8 months. He's never ordered the transformer individually, but it'd be faster that way and estimated at 2 to 4 months.
PS: I'm only sharing with everyone what I'm learning from asking around to the right people. Do not take any of these as a matter of fact.
My source just confirmed that all the other 3 HSPs are "beyond repair". I'm asking him if they are beyond replacement as well.
@MitoeCPS, at the absolute fastest, how long would it take to order and replace these HSP transformers? Lets assume Bumi will pay hand over fist cause they're bleeding badly each day this drags on.
My hunch is one of the transformer blew out some time ago (unrelated to this whole recent incident), the second blew out on the 20th of May, the third blew out as the attempted a restart. So we're left with one now.
@MitoeCPS,
Interesting you mention that, because I forwarded the email from Enquest IR to him, and this was his reply:
"My understanding is they only have one functional HSP, the other three are not in good health, so I am unsure how they can get back to full production."
My question would then be (which I've asked him with no response), can those 3 HSPs not be repaired/replaced? If no, why not? Are you (and him) suggesting there might be reason to believe that the Kraken FPSO may never reach its terminal capacity of 100% ever again? If so, why?
Good morning James,
I can confirm that the HSP was restarted on Sunday evening, with single train production resuming yesterday.
We will look to ramp up towards full production in the coming weeks.
Best regards,
Craig