IOG completes North Sea phase 1 platforms
The Blythe and Southwark platforms that Independent Oil & Gas (IOG) plans to deploy in the UK North Sea are now mechanically complete, the London-listed junior said in a stock filing on April 26.
The two normally unmanned platforms were built as part of the first phase of IOG's south North Sea gas project, aimed at recovering some 11.6bn m3 of gas. They were constructed at HSM Offshore's yard in Schiedam in the Netherlands. Onshore commissioning and system testing are well underway and should be completed in May, IOG said. The platforms are scheduled to be installed before the end of the second quarter, in preparation for first gas in the third quarter.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
The company said on April 12 it had started drilling the first of five wells planned for the first phase. It is partnered in the project with CalEnergy Resources, a unit of US investment group Berkshire Hathaway. The scheme's first phase will develop Southwark, Blythe and Elgood, while its second will target the Goddard, Nailsworth and Elland fields.
IOG also said it had fully drawn its bond escrow account into unrestricted cash.