UK-based oil company IOG, focused on developing its Southern North Sea gas fields, has renamed its Core Project and the associated Thames infrastructure.

IOG, which changed its own name from Independent Oil & Gas to IOG in April, has said that the Core Project would now be named Saturn Banks Project, and the Thames infrastructure would be named Saturn Banks Pipeline System.

IOG said the names were a reference to local seabed features in the Southern North Sea (“SNS”).

The company in June installed the Blythe and Southwark gas platforms at their respective offshore field locations in the UK.

Located in the southern North Sea, the two usually unmanned, remotely controlled platforms are part of IOG’s project now known as Saturn Bank which comprises gas resources across six discovered UK Southern North Sea gas fields. Saturn Bank Phase 1 focuses on the development of Blythe, Elgood, and Southwark fields.

IOG CEO said that the company had installed the 12″ line from Blythe to the main 24″ Saturn Banks Pipeline, 6″ line from Elgood to Blythe, and the Elgood umbilical, with the remaining subsea equipment being installed as part of the ongoing campaign on the lead-in to first gas from the Blythe Hub this year.

IOG also that refurbishment and recommissioning process for the co-owned Saturn Banks Reception Facilities continued to progress at the Bacton Gas Terminal (“BGT”) to prepare for first gas.

First gas from Phase 1 is expected in the fourth quarter of 2021 on completion of the Blythe well drilling, spudded earlier in August, and onshore recommissioning activities.  The well is expected to take under three months to complete. The Elgood well was drilled earlier this year.

Pipelay campaign to install 6km extension of the 24″ Saturn Banks pipeline to the Southwark field expected in Q1 2022, ahead of Southwark first gas which expected in Q2 2022.

Late in July, IOG signed a gas sales agreement with Gazprom Marketing & Trading Limited (“GM&T”). The contract followed a competitive offtake process involving more than 10 bidders over recent months, IOG said.

Under the deal, IOG will, over a two-year period, sell gas to Gazprom from the Elgood and Southwark offshore fields, part of the Phase 1 development, and the Nailsworth and Elland fields that form part of its Phase 2 development.

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