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Single Buoy Moorings Inc

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About Single Buoy Moorings Inc:

Single Buoy Moorings Inc has been awarded by EnCana Corporation the Production Field Center (PFC) Lease and Operations Contracts for the Deep Panuke field development.

The Production Field Center, which will contain all of the main facilities, will be located approximately 250 km southeast of Halifax, Nova Scotia, Canada approximately 47 km west of Sable Island and in approximately 44 metres water depth.

The Production Field Center will be capable of producing up to 8.5 x 106 m3/day (300 MMscfd) of natural gas from subsea wells. Each subsea well will have its own dedicated flowline and umbilical. The Deep Panuke reservoir fluids contain H2S and CO2 which will be removed from the fluid stream during processing on the Production Field Center and disposed of into a dedicated subsea acid gas injection well. The market ready processed gas will be exported to shore via a single subsea pipeline with landfall close to Goldboro, Nova Scotia and onward interconnection with the Maritimes and Northeast Pipeline (M&NP) for markets in Canada and the United States. The subsea export pipeline will be approximately 176 km in length.

The Production Field Centre Lease and Operating Services Contracts consists of 1) the EPCIC Contract covering the. engineering, procurement, construction, installation, and commissioning of the PFC; 2) the Charter which covers the lease of the PFC for a fixed period of 8 years with options for extensions and 3) an PFC Operations Contract which covers the operation of the entire Deep Panuke Field on behalf of EnCana, the Operator of Record. The Project will be executed in compliance with the Canadian Nova Scotia Offshore Petroleum Board's Deep Panuke Benefits Plan and Development Plan Decision Report and all the applicable regulations, codes and Standards. Engineering activities will be managed such that designs are safe, fit for purpose, and meet the Project specifications and the operating performance requirements.

The expected life duration of the Deep Panuke Field is between 8 to 18 years, with production scheduled to begin in Q4, 2010.

Single Buoy Moorings Inc is committed to providing opportunities for Nova Scotian and Canadian companies through employment, procurement and contracting on an internationally competitive basis, with full and fair opportunity for Nova Scotians and Canadians, and first consideration to Nova Scotians where competitive on a best value basis.

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