Sterling Resources Announces Successful Installation Of Breagh Platform In The North Sea
Calgary - Sterling Resources Ltd. ("Sterling" or the "Company") is pleased to announce that the Breagh Alpha platform has been successfully installed in the North Sea. The 2,000 tonnes jacket with eight piles weighing a further 2,000 tonnes was installed by Heerema Marine Contractor's heavy lift vessel (HLV) Thialf, in 62 metres of water some 100 kilometres off Teesside along the East Coast of the United Kingdom. This was then followed by the successful lift and setting of the 1,400 tonnes integrated deck topsides. All work was completed safely and without incident.
"The successful installation of the Breagh Alpha platform is another major milestone in the development of the Breagh gas field as we advance towards initial gas production in mid 2012," stated John Rapach, Sterling's Chief Operating Officer. "We are pleased that this installation was completed safely and without incident, and we now look forward to drilling new production wells and completing the onshore facilities over the coming months," added Mr. Rapach.
The Breagh field is located in UKCS blocks 42/12a and 42/13a of the Southern North Sea in 62 metres water depth, approximately 100 kilometres east of Teesside. The field is being developed in two phases. Phase 1 entails gas to be exported via a 20 inch pipeline from the Breagh Alpha platform to Coatham Sands, Redcar on the UK mainland, and a 10 kilometre onshore pipeline for processing at the Teesside Gas Processing Plant (TGPP) at Seal Sands. The TGPP site is owned by Teesside Gas & Liquids Processing, and after processing at the TGPP, the gas will enter the UK National Transmission System. Phase 2, for which we anticipate receiving field development program (FDP) approval in early 2012, is expected to include additional wells in the east of the field drilled from the Breagh Bravo platform which will be tied back to the Alpha platform.
RWE Dea, as operator, holds a 70 percent interest in the Breagh gas field, with Sterling holding the remaining 30 percent. The Breagh field is one of the largest natural gas discoveries under development in the UK Southern North Sea.
The gas field is a conventional carboniferous reservoir and will be the first large scale production for Sterling. Further upside potential is expected in the surrounding exploration blocks.
SOURCE Sterling Resources Ltd.