Infrastrata Reports Major FEED Milestone Completed For Islandmagee Gas Storage Project

11/10/2018

Map source: InfraStrata

InfraStrata plc, the UK quoted company focused on the development of natural gas storage capacity, is pleased to provide an update on FEED ("Front End Engineering Design") progress for its Islandmagee gas storage project, having now achieved nearly 70% of the pre-established milestones (11/16).

FEED commenced in May 2018 and is scheduled to be delivered in accordance with the EU Grant provisions.  The reports required by the EU are anticipated to be submitted within Q4 2018.  FEED remains on budget with no significant issues being uncovered.  Milestone 11 has now been completed, following excellent endeavours by our FEED contractors Costain and DEEP. to achieve this ahead of schedule.

Current Milestone Progress

Milestone

End of Month

Description

 

Status

1

April

Contract Award Costain

InfraStrata

√ - Completed

2

May

Contract Award DEEP

InfraStrata

√ - Completed

3

May

Appointment of Subsurface Expert

InfraStrata

√ - Completed

4

May

Issue FEED schedule, project and quality plans

Costain

√ - Completed

5

May

Current Design Agreed

Costain

√ - Completed

6

June

Current Design Agreed

DEEP KBB

√ - Completed

7

June

Appoint Owners Engineer

InfraStrata

√ - Completed

8

July

Issue Process Flow Diagrams

Costain

√ - Completed

9

August

Gas & Leaching layout review

Costain

√ - Completed

10

August

All Process & Instrumentation Diagrams

Costain

√ - Completed

11

Oct.

Engineering Design Complete

Costain

√ - Completed

12

Oct.

All Investigation work on samples complete

DEEP KBB

 

13

Oct.

Cavern Design & Rock Mechanics Complete

DEEP KBB

 

14

Nov.

Surface FEED Deliverables & Estimates

Costain

 

15

Nov.

Subsurface FEED Deliverables & Estimates

DEEP KBB

 

16

Dec.

Submit Reports To EU

InfraStrata

 

 

The engineering design that has been completed is intended to position InfraStrata's proposed Islandmagee facility as a globally competitive and technologically advanced, fast-cycle, pioneering gas storage facility.  Costain, DEEP, Atkins and WSP have all worked together seamlessly to ensure the best possible outcome for InfraStrata.

The Expression of Interest ("EOI") period has now ended and its many responses are currently being evaluated prior to a bid pack being issued to the selected EPC (engineering, procurement, and construction) contractors in December of this year. Work continues at pace to examine ways for potential enabling works to be undertaken between FEED completion and final investment decision ("FID").

Advanced discussions continue between InfraStrata and potential project equity providers and offtake partners.

John Wood, Chief Executive Officer commented,
"Completion of the Project's Engineering Design is a major fundamental milestone for InfraStrata.  We still have some milestones left to complete prior to completing FEED, however, with the information we have to date we do not foresee any issues and expect to complete FEED on time and on budget."

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