LONDON (Alliance News) - Independent Oil & Gas PLC Monday said it has entered into a gas sales agreement with BP Gas Marketing Ltd, a subsidiary of BP PLC, for its 50% share of the gas produced from the forthcoming Blythe gas field development in the Southern North Sea.
The firm said Blythe gas is expected to be sold at Bacton, Norfolk, on a "day ahead basis", which is standard for gas that meets normal system entry requirements.
The short term target for Blythe is to submit the Field Development Plan in the third quarter this year, IOG said.
The firm will provide more details regarding the development schedule in due course.
The stock was trading at 25.78 pence Monday morning, up 1.28 pence or 5.2%.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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