The company has now made the Final Investment Decision on the development of the Lancaster Early Production System and also said yesterday that it expects to get development and production regulatory approval ‘shortly’.
Fabrication orders have been placed with Technip for SURF and SPS works, a rig contract has been signed with Transocean to complete already-drilled EPS production wells, and Hurricane has also leased a floating production and storage vessel from Bluewater Energy Services.
Dr Robert Trice, Chief Executive, Hurricane Energy, said: “All operational work streams are proceeding on track for delivery of the project within the target timeline of first oil in 1H 2019.
“Successful completion of the fundraising enables us to move ahead with the upgrade of the FPSO, fabrication of the buoy, and procurement of the subsea components for installation work to begin next summer.
“The Lancaster EPS is not only an essential step in planning for the full field development of the Company’s Rona Ridge assets, but also represents a substantial development in its own right, with planned production of 17,000 barrels of oil per day.
15 Sept 2017