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Oil and gas company Hurricane Energy said it would engage with stakeholders over options to enhance both wells at its Lancaster site.
While several development options continue to be evaluated, a side-track of the existing 205/21a-7z well to an up-dip oil producer location could increase oil production from late 2021, the company said.
This could be followed by a water injection well in the northwest of the Lancaster field, which, with related FPSO and subsea work, could provide pressure support and sweep oil within the onlapping sandstone reservoirs towards the producing wells from late 2022, it added.
The company said it would now 'commence a period of stakeholder engagement to seek alignment on the merits of this further Lancaster activity and the support and/or approvals which may be required to execute this programme.'
At 9:34am: (LON:HUR) Hurricane Energy PLC share price was 0p at 3.25p