RE: Kraken2 Jun 2023 21:28
Hi
"The shut-in comes after the vessel’s prolonged period of top-quartile production and operational performance, the offshore facility and service provider said in a bourse filing on Friday (June 2).
The Kraken FPSO, owned by Bumi Armada’s wholly-owned subsidiary Armada Kraken Pte Ltd (AKPL), is deployed at the Kraken Field in the UK North Sea under a bareboat charter contract with UK-based exploration and production operator EnQuest.
Bumi Armada said the reduced level of production due to the shut-in will result in reduced revenue earned by AKPL from the bareboat charter contract. “Given the current uncertainties, the financial impact of this incident cannot be reliably estimated at this point, but is expected to be material for Bumi Armada,” the group added.
Bumi Armada noted that AKPL is working with EnQuest to assess alternative technical solutions aimed to return the FPSO to production, on a phased basis, in the coming weeks.
“In the meantime, key maintenance activities, originally scheduled for execution within two periods of single-train operations in the third quarter of the year, are being executed during the period of shut-in,” the group said.
“These activities are intended to negate the requirement for any further planned outages in 2023,” it added."
GLAXXX