IOG submits Blythe hub FDP

Independent Oil and Gas has submitted a field development plan (FDP) to the UK Oil and Gas Authority (OGA) for the Blythe Hub.

The project comprises the Blythe and Elgood fields, which are 100% owned and operated by IOG, and are in the UK Southern North Sea close to existing infrastructure and other IOG-owned licenses.  

Blythe contains independently verified 2P reserves of 34.3 Bcf (6.1 MMboe) and Elgood 22 Bcf of 2C resources (4.3 MMboe). A new competent persons report is due to provide up-to-date independently verified estimates of the reserves and resources. 

The Blythe Hub is expected to provide the first gas for IOG via the recommissioned Thames Pipeline. IOG is in the process of completing the 100% acquisition of the pipeline, which is intended to be tested and recommissioned.

This could also offer synergies with the 100%-owned Vulcan Satellites Hub, containing independently verified 2C resources of 321 Bcf (55.45 MMboe), which is also intended to be exported via the Thames Pipeline.

IOG is also 100% owner of the Harvey discovery, which lies between the Blythe and Vulcan Satellites Hubs. Harvey needs further appraisal and is currently estimated to have P50 recoverable resources of 113 Bcf (19.5 MMboe), says IOG. 

IOG CEO Mark Routh said: "Commercial negotiations continue to be progressed upon the basis of deferrals of a substantial proportion of contractor costs as well as prepayments from potential gas offtakers to help meet the funding requirements."

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