UK focused Independent Oil and Gas (IOG) has been given a two-year extension on its Harvey license in the North Sea and says it plans to drill on the license by September 2019.
The Oil & Gas Authority has extended the initial term for license P2085 to 20 December 2019. IOG has made a firm commitment to drill a well on the Harvey structure, commencing by 20 September 2019, and says a rig contract will be in place by 20 November 2018.
IOG says that the gross best case unrisked prospective gas resources for the Harvey structure is 114 Bcf, which makes the license potentially the largest in IOG’s 100% owned portfolio.
Harvey is between IOG's Blythe and Vulcan Satellites hubs. If successfully appraised, Harvey gas could be exported via the nearby Thames Pipeline, in line with IOG's hub strategy.
An independent Competent Persons Report has estimated the Low/Best/High case unrisked gross prospective gas resources on the Harvey structure to be 45/114/286 BCF (36/90/226 Bcf on license).