North Sea-focused development and production firm Independent Oil & Gas (IOG) is bidding to become the operator of the Skipper and Blythe licences following the withdrawal of their current operator.
The company, who owns a 50% interest in the east coast of Shetland and Southern North Sea prospects, has entered a partnership with AGR Well Management, who is set to assist with the process of qualifying as an operator.
AGR would also seek a replacement rig for the Skipper appraisal well, scheduled for the third quarter of next year, after the existing deal for a rig was withdrawn by the current operator ATP Oil and Gas UK.
ATP UK, who owned the remaining 50% interest in each licence, is finalising the sell-off of its shares to Alpha Petroleum, after seeking bankruptcy protection in 2012.
“IOG is pleased that the sale of ATP UK is progressing,” said Mark Routh, chief executive of Independent Oil & Gas.
“Whilst we continue to hold their team in the highest regard, they are restricted from making any significant commitments on our joint licences until the sale completion.
“I have experience of running a company which was a successful production operator in the North Sea and the board is confident that IOG has the capabilities to repeat that success with Skipper and Blythe.
“The partnership with AGR enhances IOG’s capability to deliver its business plan on schedule and as operator of its assets.”
The Blythe gas field is believed to contain up to 6million barrels of oil equivalent while Skipper’s reserves are estimated at 26million barrels of oil.
Earlier this year IOG also became the sole shareholder of the Skipper West and Blythe East licences.
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