IOG submits proposals for two North Sea gas fields

Independent Oil and Gas has submitted a field development plan to the UK Oil & Gas Authority for its planned Blythe gas hub in the southern UK North Sea, comprising the Blythe and Elgood fields.

Offshore staff

LONDONIndependent Oil and Gas (IOG) has submitted a field development plan (FDP) to the UK Oil & Gas Authority for its planned Blythe gas hub in the southern UK North Sea, comprising the Blythe and Elgood fields.

The company issued adraft FDP for Blythe only last December. 

Blythe and Elgood, both 100% owned and operated by IOG, are close to existing infrastructure and other IOG-owned licenses. Blythe contains estimated reserves of 34.3 bcf and Elgood 22 bcf. Neither field requires further appraisal.

The Blythe Hub should provide the first gas for IOG via theThames pipeline, which the company is acquiring from Perenco, and which it plans to test and recommission.

Other users will likely be IOG’sVulcan Satellites Hub (321 bcf) and the Harvey discovery, in between Blythe and the Vulcan Satellites. Harvey, which needs further appraisal, has estimated recoverable resources of 113 bcf. 

Mark Routh, CEO and interim chairman of IOG, said: “Commercial negotiations continue to be progressed upon the basis of deferrals of a substantial proportion of contractor costs as well as pre-payments from potential gas offtakers to help meet the funding requirements.”

07/19/2017

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