LONDON – Independent Oil and Gas (IOG) has obtained an extension from the Oil & Gas Authority (OGA) to license P1736 in the UK southern North Sea until Dec. 31, 2018.
The license includes the Blythe gas field, estimated to hold 33 bcf of 2P reserves and an important part of IOG’s planned Blythe and Vulcan Satellites hub developments.
Last summer the company re-submitted proposals for Blythe as part of a joint development plan with the nearby Elgood discovery. IOG anticipates first gas from the Blythe hub in mid-2019.
The extension remains contingent on a number of milestones agreed with the OGA, culminating in the submission of a final development plan that can be approved by Aug. 31.