Production from the Victoria field was shut-in on 4 August 2010. Preliminary investigations identified that the umbilical control line was not functioning. Prior to this the Victoria well had been flowing steadily at 9.0 mmcf/d.

Following a video survey obtained by ROV on 22 August, Bridge Energy has now been able to assess the extent and nature of damage to the Victoria subsea installation. The survey confirmed that the umbilical control line connecting to the Victoria Valve Skid has been severed. The survey was also able to confirm that both the Victoria wellhead structure and production flowline are undamaged.

A repair plan is currently being prepared by Bridge Energy. This will involve the recovery of the damaged end of the umbilical to surface, joining a new section of umbilical to the end, re-connection to the valve skid and re-commissioning of the repaired umbilical.

Substantially all of the necessary equipment spares have been identified and located. Qualified specialist technicians are also available to Bridge Energy to make the repairs. Bridge has also identified suitably capable vessels to perform the repair operation and is working to schedule the repairs with them. One piece of equipment needs to be manufactured. Following its manufacture, the repair operation will commence mid October with re-start of production expected by the end of October 2010.

The current cost estimate for the entire repair is in the range of £2.2 – 2.5 million and Bridge Energy is working with our insurance brokers and underwriters in anticipation of making a claim.

Bridge will make a further announcement on Friday 3 September regarding progress on the repair operations.

Tags: Bridge Resources Corp.