First lift and oil sales for Lancaster EPS

Source: press release, 18 June 2019

‘Aoka Mizu FPSO’ (photo: Hurricane Energy/Ralph Ehoff)
‘Aoka Mizu FPSO’ (photo: Hurricane Energy/Ralph Ehoff)

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, has announced an operational update in relation to the Early Production System development of the Lancaster field – Lancaster EPS.

On 18 June 2019, Hurricane sold its first cargo which was lifted from the Aoka Mizu FPSO by the Amundsen Spirit shuttle tanker. In accordance with the offtake agreement, the cargo was marketed by BP Oil International Limited.

Dr Robert Trice, Chief Executive of Hurricane, comments, “First lifting from the Lancaster EPS marks the generation of Hurricane’s first revenue. We are now building the cash flow necessary to invest in the further appraisal and development of Hurricane’s basement assets.”