Fugro begins site survey for i3 Energy’s upcoming drilling program

Dutch geophysical services provider Fugro has started a site survey for i3 Energy’s upcoming 2020 drilling program in the UK North Sea.

i3 said on Friday that the work began on January 30 and is expected to conclude during February.

According to the company, this ongoing operation will cover the remaining areas of Serenity and Liberator West’s Minos High structures not covered by i3’s 2019 site survey to ensure that all potential drilling locations remain targetable during the company’s planned 2020 drilling campaign which remains subject to funding.

i3 added that the survey would enable the company to complete the necessary permitting process for further appraisal drilling on its licenses, expected to begin in late summer.

In its operational update, the company added that its chairman David Knox would be departing to pursue renewables role in Australia.

On January 1, 2020, Knox took on significant additional responsibility as the chair of Snowy Hydro Limited, Australia’s largest renewable energy provider.

i3 named Linda Beal as the interim chairperson while the company conducts a formal search to replace Knox.

The company also stated that it would be seeking a secondary listing on an exchange by April 30 as agreed with its noteholders.

Regarding his appointment, Knox said: “I am pleased with what’s been accomplished during my time at i3 and I’m confident that it remains in capable hands. i3 Energy has established itself as a company which is bold, innovative, and working hard to extract value from its oil and gas licenses.”

Majid Shafiq, CEO of i3 Energy, said: “The entire team at i3 extends its thanks to David for his stewardship of the company since its listing onto AIM in 2017.”

He added: “The team is very much looking forward to conducting a high-impact drilling campaign starting in late summer, and the ongoing site survey being conducted by Fugro will ensure we have the data required to appraise anywhere within the mapped extents of Serenity or Liberator.”

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