Hartshead Received Letter of No Objection Concept for the Phase I Development

Source: www.gulfoilandgas.com 7/21/2022, Location: Europe

In regards to the development concept for the Phase I development of the Anning and Somerville gas fields, Hartshead Resources NL (HHR) (Hartshead, HHR, or the Company) is happy to report that it has obtained a "Letter of No Objection" (Letter) from the North Sea Transition Authority ("NSTA").

The letter acknowledges receipt of the Concept Select Report (CSR) submitted in accordance with the NSTA’s “Requirements for the planning of and consent to UKCS field developments guidance”.

The Letter follows a review of the “Concept Select Report - P2607 Phase I Development Anning & Somerville”, submitted to the NSTA (announced on 30 May 2022), and indicates the finalisation of the “Assessment Phase”, entry into the “Authorisation Phase”, and provides no objection to the Company preparing a Field Development Plan (FDP) for the Anning and Somerville fields as described in the Select Report.

The selected development concept submitted within the CSR consists of six production wells from two wireline capable Normally Unmanned Installation (NUI) platforms at Anning and Somerville, which have been classified to hold combined 2P Reserves of 301.5 Bcf1 (52 MMboe) of gas following an independent technical and commercial audit by ERC Equipiose . These platforms will then connect via a subsea pipeline to third party infrastructure for onward transportation and processing to entry into the UK gas transmission network.

Given the receipt of the Letter from the NSTA the Company now intends to progress its Phase I development through the Front-End Engineering & Design (FEED) stage and submission of a FDP prior to the final investment decision (FID).


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