Excite Energy, a North Sea focused oil company, has signed a time charter contract with Teekay Navion Offshore Loading for a shuttle tanker vessel.
The tanker, known at the Scott Spirit, is to be used as the in-field storage and offtake facility for Bentley crude oil during the Phase 1A of the Bentley field development programme now being undertaken.
Excite has also concluded a contract with Ocean Installer for the installation of the oil export pipeline of 1.8 km between the Rowan Norway jack-up rig and the Scott Spirit.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company also reported that drilling of the 9/3b-7 well on the Bentley field is progressing satisfactorily.
NR
-
Estates without a will hit five-year high – as two in five Brits prepared to go to court over inheritanceFigures from the Ministry of Justice show the number of probate disputes is rising steadily.
-
Why now is the right time to invest in biotechThe biotech sector holds huge potential for investors, with strong growth and attractive valuations. Here's the best way to play it.
