Sign up Australia
Proactive Investors - Run By Investors For Investors

Hurricane Energy ticks off another item from the Lancaster early production system checklist

A crucial test at the Dubai dry dock was completed ahead of schedule and the project remains in line schedule for first oil in 2019
Dr Robert Trice chief executive of Hurricane Energy offshore drilling in North Sea
Lancaster’s EPS will yield 17,000 bopd

Hurricane Energy Plc (LON:HUR) has confirmed that another box has been ticked off its field development checklist, with the successful completion of buoy 'dry' trial fit testing at dry dock in Dubai.

The Aoka Mizu FPSO (floating production storage and offloading) vessel is being upgraded at Dubai Drydocks World ahead of its deployment as the key piece of equipment in the planned Lancaster field early production system.

READ: Hurricane Energy advances premium listing plans, updates on corporate governance changes

At the same dry dock, a buoy has been fabricated for use as part of the FPSO mooring system. The trial fit testing saw the buoy and Aoka Mizu turret mooring system connected and subsequently separated.

Hurricane, in a project update, told investors that the successful test has provided “a high level of confidence” and that it was completed ahead of schedule.

"I am delighted that the Lancaster EPS development has passed another key milestone with the successful trial fit testing of the buoy in Dubai,” said Dr Robert Trice, Hurricane chief executive.

“I would like to thank Bluewater and Dubai Drydocks World for reaching this milestone ahead of schedule, whilst maintaining safe operations.”

READ: Hurricane Energy CEO looks ahead to critical year with excellent team in place

The dry dock work remains on schedule for the buoy's departure from Dubai in the second quarter of 2018, ahead of its installation at the West of Shetland oil field during the third quarter. The Lancaster field’s early production system, which will yield some 17,000 barrels of oil production per day, is pencilled in for start-up in the first half of 2019.

View full HUR profile View Profile

Hurricane Energy PLC Timeline

Related Articles

Oilfield
April 26 2018
As well as commercialising well technology, Highlands also produces from its own operations.
picture of wind turbines
January 11 2018
The construction of more than 600 wind turbines was funded by securing US$1bn of financing during the year.
picture of gas flare
February 13 2018
A new gas generator also came on stream recently and has started to produce the first power from the project

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use