- Phase I Development Field Development Plan (FDP) nearing completion and submission to North Sea Transition Authority (NSTA)
- Inaugural Work-Group with RockRose Energy part of Viaro Group and Hartshead technical and commercial teams set for Thursday 25th May 2023
- Project plan focussed on first gas production for 2025 is on track, following completion of the farm-out and consequential equity funding for development.
- Phase 1 Front End Engineering Design (FEED) is now 90% complete.
- Application decision for the UK 33rd Offshore Licensing Round expected in H2 2023.
Hartshead Resources has announced that it is nearing completion of the FDP for the Phase I development of the Anning and Somerville gas fields. The Company expects to have finalised the FDP and be in a position to submit it to the NSTA within the next few weeks.
The Phase 1 development of Anning and Somerville fields will be achieved with a total of 6 production wells. These wells will be produced through two un-manned minimum facilities platforms tied back via a 40km export pipeline to the Shell operated Corvette facility. From there the Anning and Somerville gas production will be transported to the onshore Bacton Gas Terminal via Shell’s Leman system and pipeline.
The FEED work for the Phase 1 development is now approximately 90% completed. The completion of FEED will be a significant milestone as the Phase 1 development progresses towards FID (Field Investment Decision) and the execution phase.
Other noteworthy operational developments:
- Invitations To Tender (ITTS) for Phase 1 platforms Engineering, Procurement, Installation and Commissioning (EPIC) contracts being finalised for issue.
- The Company has recently issued ITTs for the pipeline route survey for the Phase 1 export pipeline to Corvette.
- Pre qualification process for ITTS for Phase 1 export pipeline EPIC nearing completion.
- Successful completion of the HHR’s first offshore operations – the geophysical and environmental base-line survey of the Anning and Somerville platform locations.
- In the process of securing a vessel to perform borehole surveys at each of the Anning and Somerville platform locations.
Finally, the Company previously confirmed that it made submission for a number of licences in the UK 33rd Offshore Licensing Round announced by the NSTA in 2022. The results of the licensing round and awards are expected to be announced in H2 of 2023.
Recently the Company has had a very active period, as it has announced the Farm-out of 60% of the License P2607 to RockRose Energy and as the Company completes the outstanding work-streams aimed at bringing the project to FID, targeted for Q3 2023. The Phase I development continues to present a highly unique and compelling development opportunity for the Company, with the production of material gas volumes into highly supportive UK gas prices and set to deliver first cash-flows for the Company in 2025.
Looking ahead, key milestones include:
- Completion of FEED Q2 2023
- Submission of the FDP Q2 2023
- Execution of debt financing Q3 2023
- Target FID Q3 2023
- UK 33rd Offshore Licensing Round announcement of awards H2 2023
Keith Bush, Hartshead COO, commented:
'Completing FEED for our Phase I development and submission of the FDP to the NSTA will be an important step towards field development and first gas. I am pleased by the commitment and work effort of the team and their valuable contribution to our operational efforts.
We are also looking forward to receiving feedback on our submission for the 33rd round and the potential for winning additional new licenses to add to our existing portfolio.'
Source: Hartshead Resources
