Orkney oil terminal deal welcomed

Monday, Nov 26, 2012

An oil terminal in the Orkney Islands has been given a major boost following a North Sea deal.

Oil and gas firm Talisman Energy has signed an agreement to provide transportation and processing services to the Golden Eagle development, which is currently under construction.

The services will be provided through the Talisman-operated Flotta terminal at the southern end of Scapa Flow.

Orkney Islands Council welcomed the deal, saying it would secure 200 jobs.

The £2.2bn Golden Eagle project is expected to produce 140 million barrels of oil equivalent over 18 years.

First oil from the field, which lies 110km (68 miles) north east of Aberdeen, is expected in late 2014.

Golden Eagle is operated by Nexen Petroleum UK, which also holds a 36.54% working interest in the field.

The remaining interest is held by Maersk Oil North Sea UK (31.56%), Suncor Energy UK (26.69%) and Edinburgh Oil and Gas (5.21%).

Source: BBC

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today