Independent Oil and Gas (IOG) is poised to kick-start its North Sea drilling campaign after getting the green light at is general meeting.
Chief executive Mark Routh said: “We are now in the final stages of preparation for this well which we believe will be transformational for IOG and should confirm Skipper as a key pillar in our target to achieve more than 100 MMBoe combined 2P reserves and 2C resources net to IOG from the existing portfolio once the previously announced Vulcan satellites acquisition is completed.
“We are very excited to be drilling in the North Sea at this time and look forward to progressing straight to the Skipper Field Development planning thereafter.”
Transocean’s Sedco 704 semi-submersible drilling rig is due to drill the appraisal well on the Skipper oil discovery in the second half of July 2016.
A company spokesperson added: “The vertical well will be drilled to 5,600ft with the primary objective of retrieving good quality reservoir condition oil samples in order to optimise the Skipper field development plan. The well will also drill two mapped reservoir structures beneath the Skipper oil field in the Lower Dornoch and Maureen formations.
“The directors of the Company believe an approved field development plan on Skipper would convert the Board’s estimated 34.1 MMBbls of contingent resources, based on a 25% recovery factor, into 2P reserves.”
Skipper lies in Block 9/21a in licence P1609 in the Northern North Sea. IOG is 100% owner and operator of the licence.
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