Independent Oil and Gas (IOG) has submitted its field development plan (FDP) for the North Sea’s Blythe discovery to the Oil and Gas Authority.
The firm owns 100% of the Southern North Sea prospect. It contains independently verified 2P reserves of 34.3 billion cubic feet (BCF) (6.1 million barrels of oil equivalent, (MMBoe) and needs no further appraisal, according to the company.
Chief executive Mark Routh said: “We are pleased to deliver on our commitment to submit the draft Blythe FDP by year end. Blythe is at the heart of our first gas hub and is therefore of great strategic value to us. We continue to work hard to maximise the gas that can be commercially developed from our core Southern North Sea area, including the Blythe and Vulcan Satellites hubs. We are working with some well-established parties on the financing of these hubs and are pleased with progress to date.”
IOG is targeting first gas in the second half of 2018. It will produce the company’s first asset portfolio revenue.
The planned gas hub around Blythe is expected to include the nearby Elgood discovery as a tie-back to the same infrastructure. IOG is in exclusive talks to secure the main export route for all of its SNS fields, including the 100%-owned and operated Vulcan Satellite fields.
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