Operator Ithaca Energy is slating first oil from its key North Sea field development in November.
The update on the Greater Stella (GSA) programme came as the north east-headquartered group said its existing portfolio of production assets had performed well in the first half of the year, in large part due to the Cook and Dons area fields.
When compared with 2015, production was around 25% lower in the six months to June 30, although the figure remained higher than the 9,000 barrels per day equivalent that had previously been guided to the market.
Daily production from Ithaca is expected to at least double to north of 20,000 barrels once GSA is added.
The company told investors the final piece of GSA infrastructure – the FPF-1 floating production platform – had now been released from the Remontowa shipyard in Poland after joint venturer Petrofac completed the delayed modification programme.
Ithaca said the platform had been materially upgraded to the requirements of the GSA hub.
The FPF-1 – which can accommodate more than 70 personnel – has been bolstered with additional buoyancy and marine system enhancements, while entirely new topside oil and gas processing facilities have also been installed.
The facility is expected to arrive on location in the Central North Sea imminently, at which point commissioning checks will take place.
Ithaca said it now hoped to achieve first hydrocarbon production from GSA in November.
Earlier this month, the company moved to strengthen its position in the wider GSA area with the “low cost” acquisition of additional interests in the Vorlich and Austen discoveries.
CEO Les Thomas said the company was making progress, with costs falling and the impact of GSA production to come.
“The business has continued to perform well over the first half of the year,” Mr Thomas said.
“Production is running ahead of guidance, operating costs have been further reduced and we have continued deleveraging the business.
“It has been particularly pleasing to announce the recent sail-away of the FPF-1, the quality and completeness of which means we move forward into the operational phase of the Stella development with confidence.
“We remain focused on getting to first production safely and efficiently, whilst ensuring we secure the long term value of the hub through our on-going investment activities.”
