Independent Oil and Gas plc has submitted the Blythe Field Development Plan in draft format to the Oil and Gas Authority.
The Blythe gas field, which is 100% owned and operated by IOG, is located in the Southern North Sea close to existing infrastructure and other IOG-owned licences. It contains independently verified 2P reserves of 34.3 billion ft3 (6.1 million boe) and needs no further appraisal. First gas is expected in the second half of 2018, subject to completion of the development funding.
Submission of the draft FDP is a key milestone for the Company as it gears up its capabilities for the field development. Reaching this milestone by the end of 2016 was also a requirement of the recent licence extension.
Blythe is particularly important to the Company because it is expected to produce first revenues from its current portfolio of assets. Furthermore, 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.
Mark Routh, CEO of IOG commented:
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.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/12122016/independent-oil-gas-submits-fdp-for-blythe-field/