Hartshead Resources has submitted the Field Development Plan (FDP) for its Phase 1 gas development to the North Sea Transition Authority (NSTA) – the first step towards development of its UK Southern Gas Basin assets.

The development plan consists of six production wells from two wireline capable Normally Unmanned Installation (NUI) platforms at Anning and Somerville.

These platforms will then connect subsea to infrastructure for onward transportation and processing for entry into the gas network.

Hartshead Resources (ASX:HHR) will now discuss the draft FDP with the NSTA to receive technical feedback and amend for any comments and then commence an audit of the revised project schedules with ERCE before publishing independently audited Phase 1 economics.

FID in Q3 and first gas in 2025

Once the company has received technical feedback from the NSTA, it will move to finalise project debt funding and take Final Investment Decision (FID) for the Phase I development with joint venture partner RockRose Energy.

“This milestone is a significant advancement towards Hartshead becoming a UK gas producer and playing our part in the UK’s energy security and energy transition,” Hartshead CEO Chris Lewis said.

“I now look forward to taking FID alongside our project partner RockRose.”

Once a FID has been made, the development of the Anning and Somerville gas fields will then commence as the company advances towards First Gas expected in 2025.

 

 

This article was developed in collaboration with Hartshead Resources Limited, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Read MoreOil & Gas

Featured Companies

You might be interested in