LONDON – Britain’s North Sea Transition Authority (NSTA) has informed IOG and its partners that the Nailsworth P2342 and P130 licenses in the southern North Sea will not be extended.
The respective expiry dates are now confirmed as September 30 and December 31.
IOG said the decision could impact the commercial potential of license P039 to the west containing the Elgood discovery.
Both Nailsworth and Elland are unconventional tight gas fields that had been undergoing technical re-evaluation following issues with IOG’s Southwark A2 well, part of the Saturn Banks cluster development.
