MOL Group entered UK in 2014 by acquiring a portfolio of producing and development assets from the German BASF Group company Wintershall UK and Premier Oil. Through completion of the three development projects, MOL Energy UK has been able to increase production to just under 20,000 boepd and is now a significant production contributor to the international portfolio from its non-operated assets. MOL Energy UK plays an active role in managing the assets in its portfolio through frequent interaction with the Operators and other joint venture partners with a focus on value generation through pursuing investment opportunities and improving operating efficiency.
The Catcher, Varadero and Burgman fields are produced through a new built FPSO vessel (Floating production storage and offloading). First oil was achieved in December 2017. The production rates were successfully ramped up in 2018 as final commissioning was completed and it has been possible to produce above the name plate capacity of the vessel since September 2018. The Catcher development produces at plateau rates and contributes more than 60% to the UK production total.
Scolty & Crathes
The Scolty/Crathes development came on stream in late 2017. Although the reservoir has excellent characteristics the production rates have been restricted by unexpected build-up of wax in the subsea pipeline from the fields to the host facility. This issue will be resolved when a thermally insulated replacement pipeline system is installed in 2019.
Priorities for upcoming years
Maximize value from our current asset portfolio, by securing excess production capacity with FPSO operator on Catcher field, commissioning of pipeline replacement project in the Scolty & Crathes area, and continuing to reduce the operating cost whilst pursuing value adding opportunities in and around the Scott area.
For details of other E&P operations, please click on the highlighted countries below: