Hurricane Energy Signs FPSO Agreement for Lancaster Field
Hurricane Energy has signed an agreement with Bluewater Energy Services for the use of the Aoka Mizu Floating Production Storage and Offloading Vessel on the company's Lancaster field, West of Shetland.
Hurricane intends to use the Aoka Mizu for the Early Production System phase of development and will have the right to extend the contract for up to ten years. Under the agreement, BES has granted Hurricane an exclusive right to enter into fully-termed agreements until November 2017. It is the parties' intention to enter into fully‐termed agreements prior to Hurricane's expected sanction date in mid‐2017.
"Hurricane is delighted to have entered into an FPSO agreement for the Lancaster EPS. This will allow us to maintain our desired first oil date of H1 2019 and further demonstrate the potential of fractured basement reservoirs in the UK,” Robert Trice, chief executive of Hurricane, said.
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