IOG secures outright control of North Sea Blythe field

Offshore staff

LONDONIndependent Oil and Gas has completed its acquisition of the remaining 50% of a license covering blocks 48/22b and 48/23a in the UK southern North Sea, containing the Blythe gas discovery.

The company paid an initial consideration of £1.5 million ($2.2 million) with deferred consideration of a further $5 million to be paid at first gas.

According to IOG, Blythe requires no further appraisal. The transaction adds a further 17.2 bcf or 3 MMboe to the company’s reserves.


Share your news with Offshore at

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...