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IOG submits Vulcan satellites FDP

Written by  OE Staff Tuesday, 31 October 2017 04:13

Independent Oil and Gas (IOG) has submitted the field development plan (FDP) for the Vulcan Satellites hub development in the UK North Sea to the Oil and Gas Authority (OGA).

The Vulcan Satellites FDP covers the three 100%-owned and operated Southern North Sea gas fields, recently officially renamed as Southwark, Nailsworth and Elland, via up to four normalled unmanned platforms. 

The three Vulcan Satellites fields are to be jointly developed with IOG’s Blythe hub, for which the FDP was submitted in July 2017.  

First gas is targeted by the end of Q2 2019, alongside first gas from the Blythe hub. A final investment decision is targeted for the end of Q1 2018. 

Gas from both hubs is planned to be exported via the recommissioned Thames Pipeline which IOG will also own 100% in.

IOG has so far announced several contractors for the delivery of the Vulcan Satellites FDP, including Schlumberger, Heerema Fabrication Group and ODE, subject to contract awards.  

IOG is using a contractor deferral model, to help it reduce upfront funding requirements.  Discussions with rig owners, subsea and pipeline contractors and gas off-takers for the Vulcan Satellites are at an advanced stage.

Peak 2P production from the Vulcan Satellites hub is targeted at in excess of 150 MMcfd from a total of eight development wells. 

The Vulcan Satellites contain 248 MMBcf (44 MMboe) 2P reserves, with the Blythe Hub (Blythe and Elgood) containing 55 Bcf), with a further appraisal well expected on the nearby the Harvey field.

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