Hurricane confirms prospective charter for Lancaster FPSO

Hurricane Energy plans to deploy the FPSO Aoka Mizu for the early production system phase of the Lancaster oil field development. Bluewater Energy Services
Hurricane Energy plans to deploy the FPSO Aoka Mizu for the early production system phase of the Lancaster oil field development. (Courtesy Bluewater Energy Services)

Offshore staff

GODALMING, UKHurricane Energy has signed heads of terms with Bluewater Energy Services for use of the FPSO Aoka Mizu on the Lancaster field, west of Shetland.

The aim is to deploy the vessel for the early production system phase of Lancaster’s development: Hurricane has the right to extend the contract for up to 10 years.

Hurricane and Bluewater intend to enter into fully-termed agreements prior to the expected sanction of the project in mid-2017.

The heads of terms sets out the scope of work required for the Aoka Mizu to meet the field’s needs, and the commercial terms concerning the upgrade and life extension work and subsequent charter rates.

In addition, both parties have started a second-phase front-end engineering and design study which is due to be completed next spring.

Dr. Robert Trice, Hurricane’s CEO, said the agreement “will allow us to maintain our desired first oil date of 1H 2019 and further demonstrate the potential of fractured basement reservoirs in the UK.”

11/29/2016

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...