Business as usual for IOG’s North Sea gas hubs project

March 26, 2020
Independent Oil and Gas has issued a progress report on its southern North Sea Core Project, involving the development of various gas fields via new offshore hubs.

Offshore staff

LONDON – Independent Oil and Gas (IOG) has issued a progress report on its southern North Sea Core Project, involving the development of various gas fields via new offshore hubs.

The company said it was in a relatively sound position, with funds in place to deliver first gas in 3Q 2021. And the steep fall in the oil price may create opportunities to drive down Phase 1 costs.

Once approval comes through from the UK’s Oil and Gas Authority for the field development plan, the company plans to formalize contract awards for the normally unmanned platforms (NUIs) and subsea, umbilicals, risers, and flowlines.

Pipelay is due to start in mid-2020, with the installation of a 7-km (4.34-mi), 24-in. pipeline connecting the Southwark field to the subsea Thames Pipeline followed by laying of the longer 24-km (14.9-mi), 12-in. line connecting Blythe to the Thames Pipeline and a 10-km (6.2-mi), 6-in. line linking Elgood to Blythe.

Southwark and Blythe NUI construction has started, with installation scheduled for H1 2021. Refurbishment continues of the Thames reception facilities at the Bacton Terminal on the Norfolk coast.

Preparations are also under way for the five-well Phase 1 development drilling campaign which is set to begin in 1Q 2021. With contracting conditions improving, the company’s in-house drilling team is progressing detailed well design activities and technical/commercial evaluation of a jackup drilling rig tender.

Contract awards to offshore drilling services providers are expected to follow before mid-year.

03/26/2020

Courtesy Var Energi's "Interim Report Fourth quarter 2023" presentation
Courtesy Valeura Energy Inc. Corporate Overview (presentation), February 2024