- A new development Programme and Budget submitted to the P2607 Joint Venture (JV) for approval
- New Programme and Budget includes gas export route that ties into the CalEnergy Resources owned and operated Saturn Banks pipeline system, for transportation to the Perenco owned and operated Bacton Terminal, where gas will be processed before entry into the UK grid
- Infrastructure funding discussions are well advanced for pipeline extension to the tie-in to the Anning & Somerville development area
- Platform re-use and funding discussions progressing for Somerville development • Project economics are significantly enhanced through reduced anticipated CAPEX and potential for accelerated production volumes and timeline
- Gas development concept of two, normally unmanned production platforms (one on each field), six production wells (three on each field) remains unchanged
Hartshead Resources has submitted a development Programme and Budget to the P2607 Joint Venture (JV) for approval for the development of the Anning and Somerville gas fields utilising the Saturn Banks pipeline system, for transportation to the Perenco owned and operated Bacton Terminal. The development plan consists of:
- Two unmanned production platforms, one on each field
- Six production wells, three on each field
- Gas export from the Somerville location through a 24” pipeline connecting to the Saturn Banks pipeline network and the Bacton Terminal
Features of the development plan include:
- High and accelerated production due to large diameter 24” pipeline to shore
- Simple and low risk tie-in to third party infrastructure
Potential reduction in required CAPEX via:
- Advanced discussions regarding capital investment for pipeline infrastructure associated with the development, consisting of one hundred percent funding for the extension of the existing Saturn Banks pipeline to the Anning & Somerville field development area.
- Potential for re-use of other existing infrastructure, such as the re-purposing of an existing production platform, is also being investigated and progressed. This platform re-use is also the subject of infrastructure funding discussions.
The P2607 JV now has 90 days to consider the development Programme and Budget and to vote whether to proceed.
Source: Hartshead Resources
