Lancaster EPS Field Development Plan Approval

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, is pleased to announce that it has received development and production consent for its Lancaster field development plan, the Early Production System (“EPS”).

I am delighted that we have been granted consent for the Lancaster field development plan for the EPS phase of the Lancaster Field.

Dr Robert Trice, Chief Executive, commented:

“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.

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.

I would like to thank the Oil and Gas Authority, the Department for Business, Energy & Industrial Strategy, and the Health & Safety Executive for their support in our achieving the first approval of a field development plan for a UK basement field. This is an important step in demonstrating the potential of basement West of Shetland and in the UKCS more generally.

We greatly appreciate the contributions provided to date by our key contractors and partners: Bluewater Energy Services, TechnipFMC, and Transocean. We look forward to providing further updates as we move forward with engineering, procurement, installation and commissioning (EPIC) activities.”