Independent Oil and Gas (IOG) has awarded a rig contract for its Core Project Phase 1 situated within the UK North Sea to a Noble Corporation-owned jack-up rig.
IOG is the operator of the three way partnership with CalEnergy Resources.
The Core Project includes 410 BCF of 2P+2C reserves and sources throughout six found UK SNS gasoline fields.
Phase 1 includes the event of the Southwark, Blythe, and Elgood fields via a complete of 5 wells, and the recommissioning of the Thames Pipeline and onshore TRF.
The UK firm made the ultimate funding resolution (FID) on Phase 1 of its Core Project again in October 2019.
In an replace on Tuesday, IOG mentioned that the rig contract award follows a aggressive choice course of by its drilling and contracting groups.
IOG was assisted by properly administration contractor Petrofac, involving technical and business analysis throughout a number of drilling contractors.
Noble’s 2009-built Hans Deul jack-up rig has been chosen to drill the 5 Phase 1 manufacturing wells.
One properly will likely be drilled on every Blythe and Elgood fields and three on the Southwark discipline.
The fields all lie in 20-30 metre water depth within the UK Southern North Sea (SNS).
The Phase 1 drilling marketing campaign is scheduled to start out in 1Q 2021 and, topic to precise properly durations over the 5 wells, is anticipated to final into 2Q 2022. The first gasoline is scheduled for 3Q 2021.
The contract additionally consists of extension choices to drill as much as two additional wells on beneficial phrases, at IOG’s election.
Alongside this, IOG mentioned that the detailed properly design is progressing, on monitor to be accomplished in early 2021 forward of the primary properly being spudded.
The firm has additionally contracted a lot of the key companies, tangibles and logistics for the Phase 1 drilling marketing campaign and is tendering and negotiating a number of related contracts.
It is price reminding that IOG in August 2020 awarded the engineering, procurement, building, and set up (EPCI) contract for its Core Project Phase 1 platforms to Dutch contractor HSM Offshore.
Andrew Hockey, CEO of IOG, commented: “This rig contract is one other key step in guaranteeing environment friendly execution of Phase 1 of our SNS Core Project, with optionality for additional drilling exercise on beneficial phrases.
“It additionally displays good ongoing collaboration between our drilling and contracting groups and Petrofac, who’re the authorised Well Operator. We sit up for spudding the primary properly in Q1 2021”.
Robert Eifler, CEO of Noble Corporation, mentioned: “We are proud to assist IOG and their companions on the Core Project Phase 1 drilling marketing campaign. The Noble Hans Duel has a confirmed historical past of profitable operations within the North Sea and we sit up for delivering protected and environment friendly operations for IOG on this essential mission”.
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