Tyra West topsides fly to Singapore

Three topsides destined for the redevelopment of Tyra West in Denmark have left the Sembcorp Marine shipyard in Singapore.

Norway-based project partner Noreco announced the successful delivery from site and shipping of the three Tyra West wellheads and risers, and two bridges, in a January 10 update.

The topsides, weighing a total of 3,485 tonnes, will now be transported to a site in the Netherlands by the heavy transport vessel Bigroll Beaufort, ahead of an installation window scheduled for April.

The facilities are part of a large redevelopment campaign for the Danish gas field overseen by the Danish Underground Consortium (DUC), a group made up of TotalEnergies (43.2%), Noreco (36.8%) and Nordsofonden (20%) .

More than $ 3 billion in investments have been made in the project – which involves both the decommissioning of old facilities and the installation of new ones – with the aim of extending the operational life of the field by at least 25 years and produce more than 200 million barrels of oil equivalent (boe).

The first set of new topsides were delivered and installed last summer.

Noreco Interim Managing Director and CFO Euan Shirlaw said, “The exit of the surface panels is an important step in Tyra’s redevelopment for us and it is advancing the project towards the first gas by mid-year. next.

“Despite the challenges of COVID-19, Sembcorp Marine has demonstrated a strong and resilient performance by delivering the new topsides for Tyra – last year for Tyra East and today for Tyra West. With a timely departure from the Singapore Shipyard, we are delighted to welcome the new Mods to the Tyra Field later this year after a safe journey. “

Two more deliveries will be made later this year, with the arrival of the Rosetti shipyard accommodation unit in Ravenna and the Tyra East G (TEG) natural gas treatment on the surface of the McDermott shipyard in Batam.

Tyra’s first gas is now expected in the second quarter of 2023.

© Provided by TotalEnergies
Tyra field redevelopment plan.

In its update, Oslo-listed Noreco also announced the renewal of its reserve-based lending facility and hedging policy.

Due to higher commodity prices in the fourth quarter of 2021, Noreco said it has entered into fixed price swaps for additional oil and gas volumes from 2022 to 24, covering approximately 415,000 megawatt hours (MWh ) – around 245,000 boe – of gas in summer 2022 at an average price of € 50 / MWh and around 720,000 barrels of oil in 2023 and 2024 at prices of $ 65 to $ 71 / barrel.

“By hedging, we seek to maximize the visibility of pre-Tyra cash flows with an approach that also takes into account prevailing market conditions. While this continues, we plan to increase our exposure to the spot market as Tyra’s first gas approaches in the second quarter of next year and beyond, ”added Mr. Shirlaw.

The company also announced the appointment of Cathrine Torgersen as Head of ESG, through her new role as Executive Vice President of Investor Relations and ESG.

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