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Home Fossil Energy IOG extends one North Sea license, adds another to Blythe FDP

IOG extends one North Sea license, adds another to Blythe FDP

March 27, 2017

UK’s Oil and Gas Authority (OGA) has given Independent Oil and Gas a further extension of the license containing the Harvey discovery and accepted technical work regarding adding the Elgood discovery to the Blythe field development plan.

IOG said on Monday that the extension of license P2085, which contains the Harvey discovery, would run until December 20, 2017.

The company added that the Elgood discovery would be added to the Blythe Field Development Plan as a satellite development.

Harvey

According to information provided by IOG, if successfully appraised, Harvey has the potential to be the largest gas discovery in the company’s portfolio.

The internal resources estimates of P10, P50, and P90 reserves have a range of 44 bcf, 113 bcf, and 290 bcf respectively. Harvey is 100 percent owned and operated by IOG and located in the Leman Sandstone Formation play.

To extend the term further, a commitment to drill an appraisal well is required, which the company expects to do later in 2017. If an appraisal well is successful, Harvey could be tied back to the SNS pipeline that the company has signed a memorandum of understanding to acquire in order to evacuate oil and gas from the Blythe and Vulcan Satellite hubs.

Elgood

Elgood is a relatively small discovery close to Blythe and contains an internally estimated P50 22 bcf of recoverable gas. It is expected to be developed via a single subsea well and tied back to a platform at Blythe. The Field Development Plan is being prepared with submission to the OGA expected in mid-2017. Both Elgood and Blythe are also 100 percent owned and operated by IOG.

Mark Routh, CEO of IOG, said: “We appreciate the continued support of the OGA with regards to our Southern North Sea gas portfolio. The excellent technical work completed by our team on Harvey has confirmed an exciting gas discovery adjacent to our Blythe and Vulcans hubs and the work on de-risking Elgood has avoided the need for a further appraisal well before development.”