EPC Offshore to select "optimum concept" for West of Shetland field
Friday, March 23, 2012
UK oil and gas company Hurricane Exploration has given a contract to Aberdeen project management company EPC Offshore, to select the "optimum concept" for development of Hurricane's Lancaster Field, West of Shetlands.
EPC will use a project management led approach to work out the best way to develop the field, with a rigorous review of all options.
The first phase of the project is expected to run until the end of the year with Front End Engineering and Design (FEED) commencing in 2013.
The Lancaster field is "one of the most significant oil discoveries in the West of Shetlands in recent years," EPC says.
Water depth is 155 metres.
Hurricane has a 100 per cent holding in the field. It has a CPR (competent person's report) indicating 2C or "best estimate" Contingent Resources of over 200m barrels of recoverable oil.
The contract is worth around £2m and is one of the largest projects EPC has ever secured, EPC says.
It is also the first contract EPC has secured from a company in England.
Following the contract, EPC will "establish a dedicated team of specialists south of the border," the company says.
According to its website Hurricane specialises in developing oil reserves in fractured basement reservoirs. "We can do this because we look at things differently. We see what others haven't seen. We exploit discoveries and we help to realise the value of those discoveries," it says.