Kerr-McGee keeps faith with North Sea despite Leadon.

(From Lloyds List)

Byline: US independent weighs up FPSO options, writes Jeremy Cresswell

KERR-McGee continues to smart from its Leadon field let down, but this has not dissuaded the US independent from continuing to build its North Sea position.

Despite the bitter blow dealt by the failure of the Leadon field and production ship to live up to expectations, the US firm generates strong cash flow from the UK central North Sea and the region will remain a core element of the company's global exploration programme.

According to senior vice-president, Dave Hager, the company expects to have decided what to do with the Leadon field and floating production storage and offloading vessel by the end of this year but will not rush.

The North Sea is regarded …