Independent Oil and Gas PLC (IOG) is extending its seismic remapping agreement with Baker Hughes’ Reservoir Development Services (RDS) group to better understand resource potential for its Blythe and Cronx/Elgood projects in the Southern North Sea (SNS), with an expected delivery date of late July 2015.
“We are pleased to strengthen our relationship with RDS as the initial results from the seismic remapping work are positive,” said Mark Routh, IOG’s Chief Executive Officer. “We expect that the resource plays beneath the Blythe and Cronx/Elgood fields are larger than first anticipated, and with additional reservoir understanding we can more than double our proven reserves, which are currently 3.0 MMBOE.”
“We believe that the added field remapping will help to better predict resource potential and accessibility,” said Scott Reeves, President of Reservoir Development Services. “By understanding the critical reservoir properties we’ll be able to recommend and engineer a development plan to help maximize profitable recovery.”