ATP UK, IOG to Submit Blythe Field Development Plan in 3Q, 2014

The previously announced acquisition of ATP Oil & Gas UK shares by Alpha Petroleum (UK) Holdings Limited is scheduled to complete on Monday 10th February.

 

The news has been reported by Independent Oil and Gas Plc (IOG), a partner in the ATP UK-operated Skipper and Blythe licences in the UK North Sea.  According to IOG, ATP UK has said the Department of Energy and Climate Change (“DECC”) has confirmed in writing that conditional on completion of that acquisition the Skipper and Blythe licences, which are held jointly with Independent Oil and Gas Plc (“IOG”), will be extended by 18 months.

“ATP UK and IOG both wish to progress the appraisal of the Skipper discovery expeditiously. Following technical evaluation, assisted by AGR Well Management, the co-venturers have agreed that a well spud date in summer 2014 may be achieved without compromise to safety, timing or the technical objectives for the well. This timing is subject to funding, and shareholder approval, for the co- venturers and rig availability,” ATP UK said in a statement.

ATP UK further said: “The licensees also wish to achieve first gas for the Blythe Field as soon as practicable. The agreed aim is to finalise the FDP for submission to DECC in Q3 2014, secure various 3rd party agreements in respect of the Blythe export route and confirm site survey vessel availability.”

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

In December last year, IOG announced there was a possibility that IOG would take over operatorship over the licences, but the company today revealed that ATP UK would continue as operator.

Mark Routh, CEO of IOG said: “Following discussions with the operator, we now feel confident that the continued appraisal and development of our key assets will be progressed with minimal delay. This is very good news for both IOG and its shareholders. We will now have a fully funded and aligned partner. We also have confirmation from DECC of their intention to grant significant licence extensions to facilitate that. We will keep the market updated of our progress on these key assets. In light of these important steps, we feel it is in the best interests of all parties for ATP UK to continue as operator. IOG will continue to support this work as an active and technically strong50% partner. IOG has made significant progress towards qualifying as an operator and this will stand us in good stead with regards to opportunities in the recently announced 28th licence round and other potential acquisitions.”

 

Offshore Energy Today Staff, February 07, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

Offshore Energy Exhibition and Conference (OEEC) 2020

Offshore Energy addresses the technical, operational and commercial challenges associated with future sector growth.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply