The PSVM development area is situated in the north-eastern sector of Block 31 roughly 400km from Luanda. Composed of the Plutao, Saturno, Venus and Marte (PSVM) fields, it is the second oil field development area that BP has been assigned in Angola. It is also the first of four development projects announced in Block 31.
BP is the operator of Block 31, holding a 26.27% share, while the concessionaire Sonangol E.P. holds 25%, Sonangol P&P holds 20%, Statoil Angola holds 13.33%, Marathon International Petroleum Angola Block 31 has ten percent and SSI 31 has a five percent share.
The four fields are expected to produce 150,000 barrels of oil each day when operational. Commissioning was started and delivery from the first three wells of the first oil field commenced in January 2013. The wells are producing approximately 70,000 barrels of oil per day. The second and third oil fields will start production by 2013 and the fourth oil field in 2014.
In July 2008, MODEC was awarded a frame agreement to supply the FPSO for the PSVM project. MODEC subcontracted Jurong Shipyard to convert the very large crude carrier (VLCC) tanker Ex-Bourgogne to FPSO PSVM. The FPSO is designed for 20 years of deployment without drydocking. Its topside modules alone weigh about 20,000t.
The conversion of VLCC tanker Ex-Bourgogne to PSVM FPSO was completed in April 2010. It included the installation of a SOFEC external turret mooring system comprising of 12 mooring lines.
Facilities onboard the FPSO include gas turbine generators, oil separation, gas injection and water injection systems.
The mooring of the FPSO to its location was completed in May 2012 by First Subsea. The FPSO has a processing capacity of 157,000 barrels of oil a day with a storage capacity of 1.6 million barrels of oil. It will also be capable of processing 245 million cubic feet per day of gas.
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