They are currently undertaking front end engineering studies in order to meet Hurricane’s stated sanction date of the end of June 2017.
Technip and FMC Technologies, under their alliance, have developed with Hurricane, an innovative approach to enhance the economics of the proposed development. Key to this approach is focusing on system design optimisation and risk reduction in project execution.
Dr Robert Trice, Chief Executive, Hurricane Energy, explained: “I am delighted that we have been able to select such world-class service companies as Technip as our SURF provider and FMC Technologies for our SPS provider. Their combined solution is ideally suited to the development of Lancaster and the Greater Lancaster Area.
“Together, we have worked collaboratively to develop the Lancaster early production system as a fit-for-purpose concept. This has allowed us to reduce the scope and the cost of the development, and ensure full alignment amongst those driving the project forward.
“We believe that the alliance’s innovative proposal is an endorsement of the significant potential of Hurricane’s fractured basement portfolio West of Shetland.
“Our collaboration with them is a very important milestone as we look over time to develop the Greater Lancaster Area’s full potential, whose full extent we believe is yet to be defined. The initial results from our recent Pilot Well has increased our internal base case resources on Lancaster to in excess of 300 million barrels.
“Furthermore, it is clear that such collaboration will be pivotal in developing the remaining recoverable reserves not just at Lancaster but on the UK continental shelf as a whole.”