Technip and FMC Grab Subsea Contract

Published at 08:31AM - 12/10/16

Hurricane Energy provisionally selected Technip and FMC Technologies to become the exclusive providers of subsea solutions for the Lancaster Early Production System (EPS).

According to a statement by Hurricane, the two companies are currently undertaking front end engineering studies (FEED) to meet Hurricane’s stated sanction date of the end of the first half of 2017.

“I am delighted that we have been able to select such world-class service companies as Technip as our SURF provider and FMC Technologies for our SPS provider. Their combined solution is ideally suited for the development of Lancaster and the Greater Lancaster Area,” Hurricane’s CEO, Robert Trice, stated.

Technip and FMC Grab Subsea Contract West of Shetland

Under the agreement, the two companies will also work on the subsequent development of the Greater Lancaster Area.

“We believe that the alliance’s innovative proposal is an endorsement of the significant potential of Hurricane’s fractured basement portfolio West of Shetland. Our collaboration with them is a very important milestone as we look over time to develop the Greater Lancaster Area’s full potential, whose full extent we believe is yet to be defined,” the CEO added.

Technip and FMC Grab Subsea Contract West of Shetland
Hurricane recently upped its estimates for Greater Lancaster

According to Hurricane, Technip and FMC have developed an innovative approach with Hurricane to enhance the economics of the proposed development, based on system design optimisation and risk reduction in project execution.

Hurricane Raises Estimates on Greater Lancaster

The three companies have been working together to develop the Lancaster EPS as a fit for purpose concept, which has allowed Hurricane “to reduce the scope and the cost of the development, and ensure full alignment amongst those driving the project forward,” the CEO explained further.

“Furthermore, it is clear that such collaboration will be pivotal in developing the remaining recoverable reserves not just at Lancaster but on the UK Continental Shelf (UKCS) as a whole,” the CEO added.

Following the initial results from a recent pilot well drilled in the area, Hurricane has raised its internal base case resources on Lancaster to more than 300 million barrels.