Hartshead Resources NL has submitted its phase I field development plan (FDP) for the Anning and Somerville joint venture gas developments in the southern North Sea.
PRODUCTION
The FDP includes the subsurface interpretation, planned development wells, production forecasts and facilities, gas transportation route to market, QHSE, and commercial and economic aspects of the development.
The Australian company said it aimed for six production wells on licence P2607 from an unmanned dual platform development, with gas transportation via a subsea tie-in to the offtake route.
Following the North Sea Transition Authority’s feedback and any amendments to the FDP, Hartshead will audit the revisions with consultants ERCE before publishing independently audited phase 1 economics.
Hartshead and JV partner RockRose Energy Ltd (60%) are targeting first gas for 2025.
FUNDING
The company expects discussions for debt funding of its remaining expenditure to conclude during Q3 2023 alongside a final investment decision with RockRose.
Viaro Energy‘s subsidiary paid A$135.7 million for Hartshead’s 60% interest in the project, which will help fund Phase I development costs.
Chief executive officer Chris Lewis described the submission of the FDP as a milestone and significant advancement for Hartshead becoming a UK gas producer.
“Seeing the development project take shape, and having a clear development plan and offtake route identified, is immensely gratifying after all the hard work put in by the team so far.”