12th Dec 2016 08:44
LONDON (Alliance News) - Independent Oil & Gas PLC on Monday said it has submitted a draft development plan for the Blythe field in the southern North Sea to the UK Oil & Gas Authority.
The gas field, 100%-owned and operated by Independent Oil & Gas, has verified proven and probable resources of 34.30 billion cubic feet of gas, with first gas from the field expected in the second half of 2018.
The firm said submitting the development plans is part of its push to ramp up operations to start work on the field.
"We are pleased to deliver on our commitment to submit the draft Blythe FDP by year end. Blythe is at the heart of our first gas hub and is therefore of great strategic value to us," said Independent Oil & Gas Chief Executive Mark Routh.
Shares in Independent Oil & Gas were up 0.7% at 15.10 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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