North Sea license award boosts Vulcan Satellites gas project

Britain’s Oil & Gas Authority has awarded Independent Oil and Gas a new license for block 48/25a in the UK southern North Sea.

Offshore staff

LONDON – Britain’s Oil & Gas Authority has awarded Independent Oil and Gas (IOG) a new license for block 48/25a in the UK southern North Sea.

This includes the western part of the Vulcan North West gas discovery and the Hogsback, Hobson and Goacher prospects.
Vulcan North West, part of IOG’s Vulcan Satellites hub development, has estimated recoverable resources of 155 bcf, 24 bcf of which extends into 48/25a.

IOG plans to tie three fields back to theThames pipeline, which it is in the process of acquiring from Perenco, with the new license covered in the field development plan (FDP).

Hogsback, a Leman gas prospect, is a tilted fault block west of Vulcan North West, up-dip from the 48/24b-2 gas discovery that Amerada Hess drilled in 1990. It could hold 18-30 bcf in-place.

Goacher too is a Leman gas prospect, a relatively low relief faulted anticline with probable in-place reserves of 71 bcf, while Hobson is a small oil field, half of which is within the new block.

Mark Routh, CEO and interim chairman of IOG, said: “We are on track to submit the Blythe/Elgood FDP very soon and the Vulcan Satellites FDP in 3Q 2017 once the reservoir modeling work is finished.”

07/17/2017

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