Hurricane Energy Progressing Operations After Boulder Relocation Works

LONDON (Alliance News) - Hurricane Energy PLC said on Thursday a further boulder relocation programme is not required for the development of the Lancaster early production system.

The UK-based oil and gas company said that in order to reduce 2018 installation and execution risk for development of the Lancaster early production system, it instructed TechnipFMC to accelerate the boulder relocation programme - planned for the second quarter of 2018 - into 2017. TechnipFMC completed the planned work scope in November 2017.

The results of this programme have now been reviewed by Bluewater Energy Services, as installation operator, and DNV GL, in its role as classification society.

They have concluded that the boulder relocation campaign has resulted in an acceptable seabed condition for the installation of the mooring system, taking the rocky soil condition into account.

They have therefore confirmed that a further dedicated boulder relocation programme is not required prior to commencing subsea installation operations in the second to third quarter of 2018. If any additional boulders are encountered during the subsea installation, these will be relocated, as required.

"I am pleased that the boulder relocation works completed in 2017 are sufficient to allow us to continue with our 2018 operations without the requirement for another dedicated boulder relocation programme. This positive news further de-risks our installation programme and brings us closer to our planned first oil date," said Chief Executive Robert Trice.

Shares in Hurricane Energy were down 1.1% at 32.43 pence on Thursday.