Independent Oil and Gas (IOG) is planning to submit a field development plan for the southern North Sea Blythe field and nearby discoveries.
The move is likely to involve a small unmanned platform, with pre-installed risers for future tie-back opportunities. It comes after IOG agreed to acquire the 50% stakes it didn't already own in North Sea blocks 48//11b and 48/23a, containing the Blythe discovery, from Alpha Petroleum Resources.
IOG will pay £1.5 million at completion with deferred consideration of a further $5 million at first gas.
IOG says the Blythe discovery needs no further appraisal. The field will double IOG’s independently verified 2P reserves to 34.3 Bcf or 6.1 MMboe.
IOG CEO Mark Routh said: “We can now move ahead to co-develop Blythe with our other assets in surrounding licences, which are 100% owned by IOG in line with our hub strategy. Our next task will be to deliver the field development plan for Blythe to the OGA (Oil and Gas Authority) and work on that has already commenced.
"IOG’s initial plan is to install a small unmanned platform at Blythe with pre-installed risers to tie-back nearby discoveries making Blythe the center of a new hub. In addition it allows us to evaluate further the discovered gas in the Carboniferous beneath Blythe and the oil discovery above Blythe in the Zechstein fractured carbonates.”
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