Hurricane launches early production system at Lancaster asset
Oil and gas company Hurricane Energy provided investors with an update on its early production system at the Lancaster Fields project on Wednesday.
The offshore installation phase of the Lancaster EPS development was launched when Hurricane completed the installation of its 'enhanced horizontal Xmas tree' drilling technology on its two existing wells.
An offshore construction vessel successfully landed and secured both Xmas trees and is now scheduled to demobilise.
Hurrican noted that additional logistical work was set to take place at the field ahead of the turret mooring system's installation.
Chief executive Robert Trice said, "I'm delighted to see the start of the installation phase of the project with activity beginning to take place offshore. All workstreams are proceeding well; we remain on budget and on schedule for first oil in H1 2019."
As of 0850 BST, shares had grown 2.39% to 0.58p.