Assets
Where we operate
IOG has built an extensive operated, low-risk offshore gas portfolio with multiple licenses across the Southern North Sea. With our partner CalEnergy Resources (UK) Limited (CER), we are co-owner and operator of the Saturn Banks Pipeline and Saturn Banks Reception Facilities, key pieces of gas infrastructure.
The Saturn Banks Pipeline was previously used to evacuate gas from the Thames area fields and was decommissioned following cessation of production at the latter area in 2015. The pipeline was acquired by IOG for a nominal sum in April 2018 from the previous owners.
It is a 24-inch concrete coated pipeline which runs 90-km from the decommissioned Thames platform to the Bacton Gas Terminal on the coast of Norfolk. IOG intends to use the shoreward 60km to export its gas. The line is connected to the Saturn Banks Reception Facilities at Bacton, acquired by IOG in October 2019, which is being refurbished as part of the Phase 1 development.
In May 2018 IOG commenced an extensive programme offshore and onshore at the Bacton terminal to commence the recommissioning of the pipeline to export the entire IOG portfolio of gas in the Southern North Sea from kilometre point 60, which is 6km south of the proposed Southwark platform location.
In October 2019, IOG completed the acquisition of the onshore Saturn Banks Reception Facilities at Bacton Gas Terminal, for a nominal sum. This facility is being refurbished as part of IOG's Phase 1 development.
The Bacton Gas Terminal is on the coast of Norfolk in the east of the UK.
Overview
IOG has a 50% operated working interest in the Blythe Hub in the Southern North Sea, comprised of two proven gas discoveries Blythe and Elgood which are being developed as a production hub. The remaining 50% interest is held by CalEnergy Resources (UK) Limited (CER).
Please see page 10 of the Annual Report 2022 for a statement of reserves & resources.
Overview
IOG has a 50% operated working interest in licence P2260 to the west of Blythe containing the Elgood discovery (Block 48/22c), which was awarded in the 28th licensing round and is being developed alongside Blythe and Southwark as part of the Phase 1 development. The remaining 50% interest is held by CalEnergy Resources (UK) Limited (CER).
Please see page 10 of the Annual Report 2022 for a statement of reserves & resources.
Overview
IOG has a 50% operated working interest in the Southwark field, with the remaining 50% interest held by CalEnergy Resources (UK) Limited (CER).
Please see page 10 of the Annual Report 2022 for a statement of reserves & resources.
Overview
IOG has a 50% operated working interest in the Nailsworth field, with the remaining 50% interest held by CalEnergy Resources (UK) Limited (CER).
Please see page 10 of the Annual Report 2022 for a statement of reserves & resources.
Overview
The Goddard licence, P2438, was awarded to IOG at 100% working interest in October 2018 in the 30th Licensing Round. A 50% non-operated stake was farmed out to CalEnergy Resources (UK) Limited (CER) as part of the wider farm-out transaction which completed in Q4 2019. In September 2021, IOG reaffirmed its commitment to drill an appraisal well on the Goddard structure, which it intends to do after the completion of Phase 1 drilling, during the course of 2022.
The Goddard discovery lies 70 km north of the Norfolk coast in 25m water depth, 5km to the south of the Perenco operated West Sole field and 11km north of the Pickerill Field.
Seismic reprocessing work over 2020-21 also identified the Southsea prospect which is directly to the south-east of Goddard.
Please see page 10 of the Annual Report 2022 for a statement of reserves & resources.
Overview
IOG has a 50% operated working interest in the Elland field, with the remaining 50% interest held by CalEnergy Resources (UK) Limited (CER).
Please see page 10 of the Annual Report 2022 for a statement of reserves & resources.
Overview
The P2442 licence (Block 53/1b area) was awarded to IOG at 100% working interest in May 2018 in the 30th Licensing Round, of which 50% was farmed out to CalEnergy Resources (UK) Limited (CER) in Q4 2019. Following seismic reprocessing work undertaken over 2020-21, the licence shows potential for a valuable multi-field gas hub, given the identification of the Kelham North, Kelham Central, Thornbridge and Thornbridge Deep prospects and higher resource estimates at Abbeydale.
Management estimated contingent resources on this licence are:
Please see page 10 of the Annual Report 2022 for a statement of reserves & resources.
Overview
The P2589 licence was awarded to IOG as operator (50% interest) in September 2020 in the 32nd Licensing Round in partnership with CalEnergy Resources (UK) Limited (CER).
These assets are directly adjacent to IOG's existing portfolio. Panther lies c.5km from the IOG-CER JV's Elland field and c.10km north of the Southwark field, which is part of the Phase 1 development, while Grafton lies c.16km northeast of Southwark. The work programme includes reservoir studies and 79km² of 3D seismic reprocessing to PSDM, which is to commence late 2021. This will help to refine resource estimates, inform development planning and evaluate any further opportunities on the licence.
Management estimated contingent resources on the licence area are:
Please see page 10 of the Annual Report 2022 for a statement of reserves & resources.