Hartshead submits field development plan with clear pathway to gas production
Hartshead Resources has submitted the field development plan for its Phase 1 gas development – the first step towards production from its UK Southern Gas Basin assets.
Stockhead
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News.
Sponsored content
Hartshead Resources has submitted the field development plan for its Phase 1 gas development – the first step towards production from 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.
It will follow that by starting 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 a 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 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.
Originally published as Hartshead submits field development plan with clear pathway to gas production
Investor Guide: Health & Biotech FY2025
In this special investor guide, health and biotech guru Tim Boreham leads Stockhead’s deep dive into the most cutting edge sector on the ASX.
Read more
Investor Guide: Gold & Copper FY2025
Stockhead's writers - including mining guru Barry FitzGerald - take you inside the copper and gold markets, and zero in on juniors exploring for the next major mine.
Read more