U.K.-based Hurricane Energy PLC has received development and production consent for its Lancaster field development plan, the Early Production System (EPS), it said on Sept. 25.
The oil and gas company focuses primarily on hydrocarbon resources in naturally fractured basement reservoirs. The Lancaster license, Hurricane Energy’s most appraised asset, has combined 2P reserves and 2C resources of 523 million barrels.
“I am delighted that we have been granted consent for the Lancaster field development plan for the EPS phase of the Lancaster Field. With funding and regulatory approvals in hand, we can now fully focus on delivering the project within the target timeline of first oil in 1H 2019.” CEO, Dr. Robert Trice, said.
Hurricane Energy’s Lancaster EPS, based in its Rona Ridge assets, west of Shetland, is expected to produce 17,000 barrels of oil per day, according to Trice. He added that the EPS will be essential to the full field development of Rona Ridge.
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