A Qualified UKCS Operator:
Whalsay has been engaged since mid-2017 in developing an updated, conventional, phased development plan, which has been independently verified as technically robust, commercially appropriate and economically attractive.
The proposed development plan targets an initial development phase concentrated in the core area of the field (CAD), producing at rates of up to 45,000 bopd. It is based on utilising a 20 well slot platform, with 17 dual lateral ESP producers and three produced water re-injection wells, installed with conventional topsides fluid handling facilities processing Bentley crude to export specification. The platform will be connected to an FSO vessel, and oil exported in 500k bbl parcel sizes via shuttle tanker.
Cost to first oil is estimated at $729MM. At $60/bbl Brent flat, P50 reserves on the core area are 131 MMbbls, with an economic field life of 35 years. The pre-tax NPV10 is $690MM with a 27% IRR.
Numerous additional opportunities exist beyond the initial development.