GDF Suez deals signal green light for Cygnus

And they’re off: French Skipper Sebastien Rogues and teammates on the monohull Eole Generation-GDF Suez during a race earlier this week

AFP/SCANPIX

By Rob Watts London

 09 August 2012 22:59 GMT

GDF Suez handed out a raft of major construction, drilling and installation contracts this week as it fired the start gun on the much-anticipated $2.2 billion Cygnus gas development in the UK southern North Sea.

The UK managing director of the French operator, Jean-Claude Perdigues, said the priority of the Cygnus partnership — also including Centrica and Bayerngas — is to deliver the plans announced this week. However, he admitted that exploiting potential upside was on their radar.

“We strongly believe there are a lot of stranded resources that we or other operators… will be able to bring to the market further down the road,” Perdigues told Upstream.

If successful, this would extend the 42,000 barrels of oil equivalent per day plateau production phase, he said.

The four-platform Cygnus…

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