Hartshead Resources (ASX:HHR) submitted a new development program and budget to the P2607 Production Seaward license joint venture for the development of the Anning and Somerville gas fields in the UK, utilizing the CalEnergy-owned Saturn Banks pipeline system, according to a Friday Australian bourse filing.
The new program includes the proposed route that will transport the gas to the Perenco-owned Bacton Terminal, where it will be processed before entry into the UK grid, the filing said.
The development plan includes six production wells, with three on both the Anning and Somerville gas fields, per the filing.
The joint venture has 90 days to consider the program and budget and vote on whether to proceed.
It said the new program's project economics include reduced anticipated capital expenditure and a potential for accelerated production volumes and timeline.
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