WSP appointed as Owner's Engineer for Islandmagee

RNS Number : 8823R

Infrastrata PLC

19 June 2018

 

19 June 2018

InfraStrata plc

("InfraStrata" or the "Company")

WSP appointed as Owner's Engineer for Islandmagee Gas Storage Project

The Board of InfraStrata plc (AIM: INFA), the UK quoted company focused on development of Natural Gas storage capacity, is pleased to announce that the Company has entered into a contract with WSP (to provide Owner's Engineer services for the Front End Engineering and Design ("FEED") programme of its Islandmagee gas storage project (the "Project" or "Islandmagee"). 

WSP as Owner's Engineer will represent InfraStrata during the design and development phase to ensure that work is undertaken to meet the project specification and is in line with appropriate standards. The Owner's Engineer provides a degree of technical and commercial due diligence for InfraStrata as the Project advances.

WSP has a specialist team of oil and gas engineers with extensive experience of providing engineering advice for major oil, gas and infrastructure projects.  The team will be led by Andrew Mustoe, WSP Principal Engineer in Oil and Gas.

Adrian Pocock, Chief Executive Officer of InfraStrata, commented: "We are extremely pleased to have engaged the services of WSP to act as our Owner's Engineer in the supervision of the FEED programme of the Islandmagee gas storage project.

The FEED programme is meeting all of its milestones, and the extensive experience of WSP over many years in similar projects should ensure that we maximise the financial potential of the Project.

We will continue to update the market with material developments as the FEED progresses."

Andrew Mustoe, WSP Principal Engineer in Oil and Gas commented: "WSP is delighted to once again be involved with this exciting and strategically important project. Our engineering team will support InfraStrata to ensure this critical project is delivered efficiently and to the highest industry standards."

For further information, please contact:

InfraStrata plc Adrian Pocock, Chief Executive	c/o Yellow Jersey [phone]
Allenby Capital Limited (AIM Nominated Adviser & Joint Broker) Jeremy Porter / Alex Brearley / Liz Kirchner	[phone]
SI Capital Limited (Joint Broker) Nick Emerson	[phone]
Yellow Jersey Tim Thomson	[phone]

-ENDS-

The Front End Engineering & Design (FEED) and Insitu Downhole Testing programme for the Islandmagee gas storage project is co-financed by the European Union's Connecting Europe Facility.

Disclaimer releasing the European Union from any liability in terms of the content of the dissemination materials:

"The sole responsibility of this publication lies with the author. The European Union is not responsible for any use that may be made of the information contained therein."

Notes:

InfraStrata is an independent gas storage company focused on the UK and Ireland. Further information is available on the Company's website: www.infrastrata.co.uk.

Background on the Islandmagee Storage Project

The Islandmagee gas storage project is a proposed salt cavern gas storage facility located on Islandmagee in County Antrim, Northern Ireland. The Board of InfraStrata believes that the proposed 500 million cubic metres Natural Gas Cavern Storage facility will provide over 25% of the UK's Natural Gas Storage once constructed, and will be situated adjacent to the Scotland Northern Ireland (gas) Pipeline (SNIP) and the Moyle 500 Megawatt Electricity Interconnector. Work commenced in 2007 with the acquisition of 3D seismic data to image the Permian salt in the Larne Lough area. During 2012, planning permission was granted for the project and a gas storage licence was issued by the Utility Regulator. In 2015 a well was drilled to core the salt and confirm the technical feasibility of the project, supported in part by the European Commission. The Font End Engineering and Design (FEED) element of the Project is scheduled for completion by the end of 2018. To date approximately £11.5m has been invested in the project.

Further information is available on the company's website: www.infrastrata.co.uk

 

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