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Independent Oil and Gas to take over UK’s Skipper, Blythe licenses

LONDON -- Independent Oil and Gas plc (IOG), a North Sea focused oil and gas company, has been advised by ATP Oil and Gas UK Ltd (ATP UK) that it no longer has a rig contract in place for the drilling of the planned Skipper appraisal well, which was scheduled for Q3, 2014. 

IOG has consequently commenced the process to replace ATP UK as the operator of the Skipper and Blythe licenses, under the Joint Operating Agreements. IOG has also commenced the process with the UK government’s Department of Energy and Climate Change to meet their requirements to take over as operator.

IOG remains committed to the original drilling schedule, subject to contracting with an alternative rig provider.  With the support of ATP UK, IOG has been in discussions with AGR Well Management Ltd (AGR) with regards to the ordering of long lead items for the Skipper appraisal well, based on the original timetable.  AGR is now also assisting IOG in securing a replacement rig slot.

In addition, IOG has engaged AGR to assist with the process of qualifying as an operator.  This is in line with IOG’s previously stated strategy and will be necessary if it is to carry out future drilling operations on its recently awarded 27th Round licenses to the west of Skipper and to the east of Blythe or if any future acquisitions or license awards require it.

IOG has also been leading discussions with a third party regarding the offtake route for the Blythe gas development, again with the support of ATP UK.  IOG believes it can better represent the partnership’s interests in these discussions and accelerate the development as operator.

ATP UK owns 50% of each of the Blythe and Skipper licenses with IOG owning the remaining 50%.

12/24/2013

 

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