29th Dec 2021 08:58
IOG PLC - London-based gas and infrastructure operator with assets focused in the North Sea - Says its Southwark development well has been unable to spud safely. The well as initially expected to spud between December 18 to 19. IOG said the delay was due to repeated technical issues with its underwater remotely operated vehicle. A second remotely operated vehicle with a higher specification has since been mobilised though has been unable to complete the necessary surveys, also due to technical issues. IOG said repairs were now underway. The well is now expected to be spudded in the coming days and IOG expects first gas in mid-2022.
Current stock price: 36.00 pence, down 1.4% in London.
Year-to-date change: almost tripled from 13.20p
By Heather Rydings; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
IOG.L