AIM-listed IOG has reached the reservoir section with its Southwark East production well at its Southern North Sea Saturn Banks development. Seabed instability caused IOG to halt Southwark operations in January, with work resuming in mid-April. Saturn Banks’ H2 gas production is projected to be in the 45-60mn ft³/d range. Price volatilityPricing of IOG's gas sales agreement with BP is directly linked to the UK NBP day-ahead price, which has been “exceptionally volatile” since first gas. The Panther-Grafton area lies close to the Southwark, Elland and Nailsworth assets, creating potential development synergies, IOG says.

Source: The North Africa Journal June 21, 2022 22:33 UTC