IOG nearing North Sea pipeline deal

Independent Oil and Gas is close to signing a sale and purchase agreement entered into last year for a disused pipeline in the UK southern North Sea.

Offshore staff

LONDONIndependent Oil and Gas is close to signing a sale and purchase agreement entered into last year for a disused pipeline in the UK southern North Sea.

This would be used to deliver gas to shore from IOG’s proposed Vulcan Satellites and Blythe hub developments.

The satellites are Vulcan East, Vulcan North West and Vulcan South, thought to hold 320.7 bcf collectively. These are 30-45 km (18.6-28 mi) east of IOG’s 100%-ownedBlythe field and are considered ready for development with no further appraisal required.

The Blythe hub licenses take in the Blythe, Elgood, Hambleton, Truman, and Harvey fields. Subject to completion of the pipeline acquisition, IOG intends to submit a full-field development plan for a combined Blythe and Elgood development by mid-year.

03/31/2017

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