CEO designate...remarks on 11/9/202012 Sep 2020 14:41
Antony Maris, Chief Executive Officer Designate of Hurricane, commented:
"Through hard work and dedication, the Hurricane team developed the Lancaster project safely, on time and on budget, and has now successfully operated the Lancaster EPS for 16 months. This capability is a core strength of the business, and I am delighted to be joining this accomplished operating team.
Following the uncertainty of recent months, as the significance of the EPS reservoir performance has become clearer, we must now focus on extracting value from Lancaster and our other discoveries, while optimising the use of our significant installed infrastructure West of Shetland. In particular, the Technical Review has identified upside within sandstone reservoirs on the flanks of the Lancaster field, with the potential for volumes of recoverable oil which are significant in a UKCS context. Furthermore, together with Spirit, we are working towards consideration of a viable development plan for the Lincoln field.
Our near-term priority is further technical work to refine an activity plan for Lancaster, which we expect to be finalised by the end of this year and executed in 2021, with an overarching focus on capital discipline. We will be engaging with all our key stakeholders regarding our forward work programme and financing arrangements and updating the market on these efforts in due course."
Sounds more forwards looking statements with aims to execute future growth plans.