Asset Report
Tern Area
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The Tern Area includes the Tern, Cladhan, Kestrel and Falcon fields. It lies in the Northern North Sea, 12 km west of Cormorant. The fields ceased production between August 2022 and April 2024. A major decommissioning project is now underway, with Allseas securing a contract for the removal of the Tern platform. Tern, the primary field, was developed using a single fixed steel jacket platform with topside facilities contained in eight modules. Kestrel and Cladhan were developed as subsea ...
Table of contents
- Summary
-
Key Issues
- Shift from production to decommissioning
- Allseas wins contract for Tern platform removal
-
Emissions
- North Sea Transition Deal
- Platform
- Late-life investment programme cancelled
- Development drilling
- Secondary recovery
- Satellite production
-
Capital costs
- Tern
- Kestrel
- Falcon
- Cladhan
- Decommissioning costs
-
Operating costs
- Emissions Trading Scheme (ETS)
- Tariff receipts
- Cash flow
- Global Economic Model (GEM) file
- Cash Flow
- Tern
- Cash flow (US$ million)
- Kestrel
- 5 more item(s)...
Tables and charts
This report includes the following images and tables:
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Capital Costs 2021 to 2029 (US$ million)Cash Flow (US$)PV Table (US$)
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Summary Table (US$)Split of RevenuesCumulative Net Cash Flow - UndiscountedCumulative Net Cash Flow - Discounted at 10% from 01/01/2026Remaining Present Value Price SensitivitiesCash Flow (US$)PV Table (US$)Summary Table (US$)Cash Flow (US$)
- 29 more item(s)...
What's included
This report contains:
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