Offshore staff
GODALMING, UK – Britain’s North Sea Transition Authority (NSTA) has confirmed to Prax that it does not oppose a recent court-sanctioned scheme of arrangement allowing the company to acquire Hurricane Energy.
Hurricane operates the basement Lancaster oil field west of Shetland, which has been producing via an early production system to Bluewater’s FPSO Aoka Mizu.
In its letter to Prax, the NSTA stated it was not minded to exercise its powers under the relevant model clauses incorporated in any onshore or offshore production license currently held by Hurricane to revoke the license or seek further changes of control of Hurricane once the scheme takes effect.
Prax has therefore confirmed that the NSTA condition has now been satisfied.
05.25.2023
