IOG: New UK Block Includes Gas Discovery
UK-listed Independent Oil and Gas (IOG) has said that the new North Sea licence awarded to it this week, comprising Block 48/25a, includes a gas discovery and a number of gas prospects, signaling a continuing future for the southern North Sea as the industry starts dismantling its 1970s legacy.
IOG said July 14 it includes the western part of the Vulcan North West discovery that extends into 48/25a and also includes the Hogsback, Hobson and Goacher prospects. It noted that Vulcan North West’s independently estimated P50 gas initially in place (GIIP) is 215bn ft3 and 2C recoverable resources of 131bn ft3 , of which 18% in IOG’s new licence 48/25a area.
Its ongoing Vulcan Satellites field development planning is “progressing very well” with all three fields expected to be tied back to the Thames Pipeline which it is acquiring. CEO Mark Routh said: “We are on track to submit the Blythe/Elgood FDP very soon and the Vulcan Satellites development plan in 3Q 2017 once the reservoir modelling work is finished.”
Of Hogsback, Hobson and Goacher, it said that Hogsback Leman is a gas prospect, Hobson an oil discovery, and Goacher another Leman gas prospect. Should any decision be taken to drill, Hogsback and Hobson could be appraised with a single well. It provided in-house GIIP estimates.
Great Yarmouth starts gas platform scrapping
On July 11, the accommodation module on the 1970s Shell-operated UK Leman gas field was towed into Great Yarmouth on the English east coast for decommissioning and scrapping; it is the first offshore structure received by French waste management firm Veolia and Dutch energy logistics firm Peterson into their jointly-owned facility there. Dutch firm Boskalis has the overall contract from Shell for Leman decommissioning.
Mark Smedley