Hurricane Energy generates first revenue as first Lancaster oil cargo sold

19-06-2019

Hurricane Energy has sold its first oil cargo from the Lancaster oil field offshore the UK following the production start-up earlier in June.

AOKA MIZU FPSO / Image by Hurricane Energy
Aoka Mizu FPSO / Image by Hurricane Energy

Hurricane Energy on Tuesday said it had sold its first cargo which was lifted from the Aoka Mizu FPSO by the Amundsen Spirit shuttle tanker.

The cargo was marketed by BP Oil International Limited, pursuant to the offtake agreement.

Robert Trice, Chief Executive of Hurricane, commented: “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.”

The vessel, hooked-up at the Lancaster location in March, completed its start-up phase with a 72-hour production test on Tuesday, June 4.

Hurricane at the time said that the combined flow from both wells had reached and maintained the planned production rate of 20,000 barrels of oil per day (bopd) during the 72-hours.

Hurricane plans a phased development of the Lancaster field. The first phase of the development is an EPS, using two wells tied back to the Aoka Mizu FPSO.

Offshore Energy Today Staff

Source: www.offshoreenergytoday.com