Offshore staff
LONDON – IOG plc has renamed its Core Project and associated Thames infrastructure in the UK southern North Sea as the Saturn Banks Project and Saturn Banks Pipeline System.
Saturn Banks is a reference to local seabed features in this part of the North Sea.
In its latest results statement, the company also revealed that the Elland and Nailsworth gas discoveries in its operated P039, P130, and P2342 licenses will likely be included in Phase 2 of the project.
ERC Equipoise assesses Elland’s resource in the range 40-73 bcf, and Nailsworth at 60-147 bcf.
Both fields are currently under evaluation for development. Depending on the findings, IOG plans to submit and obtain approvals for an environmental impact assessment and a field development plan at the earliest opportunity.
The remaining work commitment under the Nailsworth licenses is the submission and approval of a field development plan prior to the end of this year.
IOG also operates license P2442 which contains the undeveloped gas discovery Abbeydale, the Kelham North and Kelham Central gas prospects, part of the Orrell (Camlan) gas discovery and the Thornbridge prospect.
Newly reprocessed 3D seismic has firmed up prospective gas resources, and more detailed mapping and reservoir modeling of the Kelham prospects, including Kelham South, should further clarify the wider resource potential.
Another exploration prospect west of Abbeydale is Thornbridge, thought potentially to contain up to 115 bcfe.
Studies for P2442 to date have identified the potential for a southern hub development that could be tied back to the Saturn Banks pipeline.
08/26/2021
