KEYFACT Energy
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."
KeyFacts Energy Industry Directory: InfraStrata