IOG Provides Operational Update

Source: www.gulfoilandgas.com 6/1/2022, Location: Europe

IOG plc ("IOG", or "the Company"), (AIM: IOG.L), the Net Zero UK gas and infrastructure operator focused on high return projects, provides an operational update.

On 23 May, the Company announced that Saturn Banks production had been shut in by Bacton terminal operator Perenco UK (PUK) due to a drainage system deficiency in the terminal condensate stabilisation unit's (CSU) two recycle compressors. The Company announced that the shut-in was expected to last for approximately a week before a phased return to production could begin.

On 31 May, following a PUK modification to one of the CSU's compressors, Saturn Banks production was duly restored at an initial level of approximately 30 mmscf/d. As previously indicated, modification of the second compressor is expected to take approximately one further week. This will then enable Saturn Banks production to be gradually restored to its prior stabilised levels of 55-65 mmscf/d over the following weeks. This is expected to be a gradual process to manage the high levels of liquids currently being worked through the Saturn Banks Pipeline System.

Andrew Hockey, CEO of IOG, commented:

"IOG, Perenco and ODE Asset Management have collaborated well to facilitate rapid execution of the PUK terminal modification and allow our production to be resumed at 30 mmscf/d. We look forward to a phased build up to double that level as fast as technically feasible over the coming weeks."


Australia >>  8/12/2022 - Jadestone Energy plc (“Jadestone”, or the “Company”) an independent oil and gas production company focused on the Asia-Pacific region, provides the fo...
Nigeria >>  8/12/2022 - ADM Energy PLC, a natural resources investing company, is pleased to announce the completion of the 17th Lifting ("Lifting") at the Aje Field, part of...

Brazil >>  8/11/2022 - Alvopetro Energy Ltd. announces operating and financial results for the second quarter of 2022 including record funds flow from operations of $12.4 mi...
Iraq >>  8/11/2022 - Genel Energy notes that DNO, as operator of the Tawke PSC (Genel 25% working interest), has issued an update on licence activity

Gross prod...


Colombia >>  8/8/2022 - - Average Total Production of 30,607 BOPD, Highest since Fourth Quarter 2019
- Total Average Production Up 4% from First Quarter 2022 and 33% fr...

Ghana >>  8/8/2022 - Kosmos Energy Ltd. announced its financial and operating results for the second quarter of 2022. For the quarter, the Company generated a net income o...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.