Independent Oil and Gas plc, the development and production focused Oil and Gas Company, is pleased to announce that following discussions with the UK Oil & Gas Authority, the licence for Blocks 48/22b and 48/23a in the Southern North Sea containing the Blythe gas discovery (P1736) has been formally extended until 31 December 2017.
IOG owns 100% of the licence and is the operator. Blythe needs no further appraisal and has independently verified gross 2P reserves of 34.3 BCF (6.1 MMBoe).
Mark Routh, CEO of IOG commented:
"Blythe is at the centre of our first gas hub so this licence extension is welcomed and is absolutely essential. We are on track to submit a draft Field Development Plan for Blythe before the end of the year. We will provide further updates on our other SNS licences in due course."