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LIVE

Friday, 29 August, 2008, 18:20 GMT | more prices >>

Neptune repaired on-site

By Blake Wright

Australian producer BHP-Billiton will repair the damaged Neptune tension leg platform while the structure is on location in the deep-water US Gulf and aims to start pumping oil and gas though the facility by the end of June.

The operator said Monday that the platform is undergoing ‘remediation’ to reinforce certain structural components in the hull’s pontoons.

According to BHP, a detailed analysis by the SBM-Atlantia, the engineering contractor which designed and built the hull, it has been determined that part of the support structure inside the pontoons requires additional reinforcement.

Repairs are already underway to repair the structure as required to meet the original design intent.

The operator added that project development costs for Neptune are not expected to increase significantly in light of the warranty obligations of the engineering contractor.

Neptune is a single-column SeaStar TLP installed in 4250 feet (1300 meters) of water on Green Canyon block 613.

BHP Billiton operates Neptune with a 35% interest. Partners include Marathon Oil (30%), Woodside Energy (20%) and Maxus (US) Exploration (15%).