IOG Spuds Southwark Development Well

IOG Spuds Southwark Development Well
After preparations for drilling, the well spudded at 9pm on December 30.

IOG plc (AIM: IOG.L) has announced the spudding of the first Southwark development well.

After preparations for drilling, the well spudded at 9pm on December 30, the company revealed. First gas at the asset is currently expected in mid-2022 after the planned installation, in the first quarter of next year, of the 3.7-mile Saturn Banks pipeline extension to the Southwark platform, IOG outlined.

News of the Southwark development well spud followed an IOG update on December 29, which revealed that technical issues had held back drilling operations at the site.

“We are pleased to have overcome the technical issues with ROV equipment and to have completed the spud can surveys needed to allow us to spud the first development well at Southwark, another important step for IOG in delivering our Phase 1 project,” Andrew Hockey, the chief executive officer of IOG, said in a company statement. 

“The Southwark wells have been meticulously planned by the IOG drilling, subsurface, subsea and HSE teams in collaboration with our main drilling contractors Noble Corporation, Petrofac and Schlumberger, our Platform Duty Holder ODE Asset Management and our partner CalEnergy Resources (UK) Limited and fully integrate the learnings from the Elgood and Blythe wells,” he added in the statement.

“We have a very clear collective focus on ensuring safe and efficient performance leading successfully to first gas in mid-2022 from the Southwark field,” Hockey went on to say.

The Southwark field lies 18 - 28 miles east of the Blythe Hub and is part of the Southern Banks Project Phase 1 development, IOG highlights on its website. IOG has a 50 percent operated working interest in the field, which was discovered by ConocoPhillips in 2000.

IOG is a UK gas and infrastructure operator focused on becoming a material developer and producer into the UK energy market from its 50 percent owned and operated, low-risk offshore gas portfolio, its site outlines.

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