The Pyrenees project consists of the development of the Crosby, Ravensworth and Stickle oil fields which were discovered in 2003 at water depths ranging from 169 metres (555 feet) to 250 metres (820 feet.) The fields are developed with very long horizontal wells drilled from the sea floor and then tied back to the Pyrenees FPSO via an extensive gathering system. Water injection is incorporated to enhance oil recovery.The Pyrenees FPSO is a double-hulled vessel with a disconnectable turret mooring system. Gas produced by the development will be reinjected into the reservoir of the nearby Macedon gas field for future recovery.
First Oil Production From Pyrenees Development Offshore Western Australia
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.