Independent Oil and Gas plc (IOG) said it was due to start drilling for gas in the Southern North Sea during the first quarter of 2021 and produce first gas during Q3.
Today’s news comes as IOG, operator of its joint venture with CalEnergy Resources (UK) Ltd, awarded the rig contract for its core project Phase 1 to Noble.
IOG’s portfolio comprises the Vulcan Satellites hub (Nailsworth, Elland and Southwark gas fields), the Blythe hub (Blythe and Elgood gas fields) and the Harvey, Redwell, Goddard and Abbeydale discoveries in the SNS.
Noble’s Hans Deul jack-up rig will drill the five Phase 1 production wells, one each of which are planned at the Blythe and Elgood fields and three at the Southwark field, all in 20-30 metre water depth.
The contract also includes extension options to drill up to two further wells on favourable terms, at IOG’s choice.
IOG said that subject to actual well durations over the five wells, the campaign is expected to last into Q2 of 2022, with first gas scheduled for Q3 2021.
Chief executive Andrew Hockey added: “This rig contract is another key step in ensuring efficient execution of Phase 1 of our SNS core project, with optionality for further drilling activity on favourable terms.
“It also reflects good ongoing collaboration between our drilling and contracting teams and Petrofac, who are the approved well operator.”
IOG is focused on “breathing new life into the Southern North Sea” by producing “significant volumes of gas into the UK energy market” through its 50% owned and operated, offshore gas portfolio containing 2P reserves of 156 Bcfe and 2C resources of 55 Bcfe.
IOG was founded in 2011 and is also 50% owner and operator of the Thames Pipeline and Thames Reception Facilities which are key gas infrastructure providing “significant cost savings” and delivering gas into the UK market via the Bacton Terminal on the east coast.