Independent Oil & Gas (IOG) is offering interested parties to farm-in to its Core Project which consists of six discovered gas fields in the Southern North Sea. The project involves developing the Blythe, Elgood (Blythe Hub), Elland, Nailsworth, Southwark (Vulcan Satellites) and Goddard discoveries. The company estimate its Core Project to hold 410 Bcf (302 Bcf 2P Reserves and 108 Bcf 2P Contingent Resources). The Field Development Plan (FDP) involves a two-phase approach and was submitted to the Oil and Gas Authority (OGA) in October 2018. Phase 1 consists of developing the Blythe Hub and Southwark Field from the Vulcan Satellites Hub. Phase 1 is planned to be developed via two unmanned wellhead platforms at Blythe and Southwark and a subsea tieback at Elgood with up to five long reach wells being drilled. If the appraisal well is successful at Harvey, it will also be developed in Phase 1 by two more development wells. Produced gas will be exported via IOGâs Thames pipeline to the Bacton Terminal in Norfolk. Phase 2 will involve developing the Nailsworth and Elland discoveries from the Vulcan Satellites and Goddard Contingent Resources plus Prospective Resources, if successfully appraised. Phase 2 will consist of drilling five wells on Nailsworth and Elland, two wells will target Goddardâs 2C Contingent Resources and one well for the Prospective Resources. The Final Investment Decision (FID) is planned to be made in H1 2019 and First Gas is targeted for Q4 2020, from the Southwark field. IOG announced on 7 May 2019 that a number of well-funded potential partners are interested in the opportunity. If successful, this process could provide funding via a development carry which would reduce the new capital required for its Core Project. A partner is expected to be announced in H1 2019 which would enable IOG to choose between an industrial and/or capital markets funding solution for the Final Investment Decision.     The Blythe gas discovery consists of a Leman Sandstone Formation reservoir which comprises of aeolian and fluvial facies with the Kupferschiefer Shale providing the seal. The structure is interpreted as a shallow relief four-way closure with NW-SE trending faults either side and across the structure. Blythe lies in licence P1736 which was extended by the OGA till 31 December 2019 subject to the FDP being submitted to the OGA by 30 June 2019 and an FID made by 30 September 2019. Elgoodâs reservoir consists of the Leman Sandstone Formation which is trapped by the Zechstein Group within a four-way dip closed structure on a NW-SE trending anticlinal ridge. Elgood is located in licence P2260 which the drill or drop commitment was waived by the OGA in January 2019 subject to the FDP being submitted by 30 June 2019. The Leman Sandstone Formation also forms the reservoir at the Vulcan Satellites but are interpreted as being tighter due to being more deeply buried. P2438 was awarded to IOG in the 30th Licensing Round in October 2018 and contains the Goddard discovery which also lies in Leman Sandstone Formation play.     Interest in the Blythe Hub, Vulcan Satellites and Goddard is held solely by Independent Oil and Gas plc.
Independent Oil & Gas (IOG) is offering interested parties to farm-in to its Core Project which consists of six discovered gas fields in the Southern North Sea.