Crondall Energy is pleased to have provided commercial support to Spirit Energy, during their recent successful negotiation of an extension to the Hummingbird Spirit FPSO. Hummingbird Spirit FPSO has been producing from the Chestnut field since 2008 and the new contract extension signed in late 2019, enables production from the Chestnut field to continue for the foreseeable future.
Spirit Energy also achieved first oil from a new production well on the Chestnut field on 20th March 2020. This new investment, together with the 3-year contract extension to the Hummingbird Spirit FPSO, have enabled Spirit Energy to unlock a further 2.5 million barrels of oil from the field.
Crondall Energy is a leading independent consultancy providing strategic, commercial and technical services for offshore energy projects that use floating production and subsea technologies. Founded in 2001, Crondall Energy has advised on a large number of similar type transactions for FPSOs, FSOs, FLNG, FSRUs and other floating production technologies. The commercial and technical advisory team comprised industry experts from Crondall Energy’s UK offices.