CATS MANAGEMENT LIMITED SIGNS HEADS OF TERMS TO DEVELOP TOLMOUNT INFRASTRUCTURE
Posted on September 25, 2017
CATS Management Limited (CML), an Antin Infrastructure Partners portfolio company, is expanding its midstream infrastructure business in the North Sea.
CML has signed a Heads of Terms with Premier Oil and Dana Petroleum to develop the infrastructure for the Tolmount field in the Southern North Sea.
CML and Dana Petroleum will jointly construct and own the Tolmount platform and export pipeline in equal shares, as well as undertaking the onshore modifications at the Dimlington terminal, that are required to enable Tolmount gas to be received and processed.
The project is expected to be sanctioned during the first half of 2018 and is subject to final approval from the Boards of Premier Oil, Dana Petroleum and CML, as well as the UK's Oil and Gas Authority.
This opportunity further strengthens CML’s position as the leading midstream infrastructure business in the UK North Sea and is aligned with CML’s strategy to grow its business in the North Sea.