Hurricane Energy announced on 3 September 2018 that it has agreed a deal for Spirit Energy to farm-in to licences P1368 and P2294 taking a 50% interest in the licences. Licence P1368 contains the Lincoln discovery and P2294 contains the Warwick prospect, jointly the area is known as the Greater Warwick Area (GWA). Hurricane report that itself and Spirit Energy is looking towards a Final Investment Decision (FID) for full development on the GWA by 2021 with a view to start drilling operations in 2019 with first oil with the Transocean Leader (S/S) (following early production phase in 2020). To potentially unlock 500 MMboe the companies will approach the project in two phases. The first Phase in 2019 will see Hurricane fully carried through USD 180.6 million (gross) programme to drill, log and test three exploration and appraisal wells on the Lincoln discovery and Warwick prospect. In addition to this, the money will be used to tie-back one or more of the GWA wells back to the Floating, Production, Storage and Offloading vessel the âAoka Mizuâ in 2020 along with carrying modifications to the FPSO. The second phase in 2020, assuming phase 1 is successful and FID is made, the GWA wells will be tied-back to the FPSO, and tie-in to the West of Shetland Pipeline system for gas export allowing for first oil via an Early Production System by Q4 2020. There is a further contingent payment in the region of USD 150 â 200 million by Spirit Energy for Hurricaneâs carry of full field development costs.   Hurricane is in the process of nearing its first Early Production System on the Lancaster field. The company focuses on Fractured Basement in the West of Shetlands. It had been looking for partners for the Lancaster development but still remains 100% in the project. In early August 2018 Hurricane announced that it was nearing the end of the offshore installation process at Lancaster. Once all infrastructure is in place the company hopes to achieve first oil by early 2019.  Following completion of the deal interest in P1368 and P2294 will be held by Hurricane Energy Plc (50%) and Spirit Energy (50%).
Hurricane Energy announced on 3 September 2018 that it has agreed a deal for Spirit Energy to farm-in to licences P1368 and P2294 taking a 50% interest in the licences. 