IOG reports first gas at Saturn Banks
London-listed IOG reported on March 14 that it had achieved first gas at its Saturn Banks gas project in the UK North Sea.
IOG said the Blythe well had been safely opened up and gas is being delivered to the Bacton terminal for onward delivery to the UK market. The Elgood well is expected to start up in the next few days, IOG said.
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IOG and its project partner CalEnergy Resources took a final investment decision on the first phase of Saturn Banks two and a half years ago.
"Phase 1 first gas is just the first step on a bigger journey, giving us the operational platform and financial capacity to deliver multiple further phases of growth," CEO Andrey Hockey said. "By delivering domestic gas supplies through our co-owned infrastructure on a Scope 1 and 2 net zero basis we can generate strong and sustainable returns for shareholders."