Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
This is the start of a good week. Some decent coin coming in very soon for the business and the SP should be reflecting that.
UK-based oil and gas firm IOG plc has informed that the onshore reception facilities for its Saturn Banks project development have been successfully commissioned, in what is the final step to first gas from its Southern North Sea gas fields. As previously reported, work on the reception facilities had been hampered by stormy weather in February.
IOG is focused on developing its Southern North Sea gas fields at the Saturn Banks Project. The company in June last year installed the Blythe and Southwark gas platforms at their respective offshore field locations in the UK. The two usually unmanned, remotely controlled platforms are part of the Saturn Bank project which comprises gas resources across six discovered gas fields. Saturn Bank Phase 1 focuses on the development of Blythe, Elgood, and Southwark fields. First Gas from both Blythe and Elgood is set to start flowing in around a week.
"All construction, commissioning and function testing activities at the SBRF have now been completed and fully signed off. The required UK Health and Safety Executive clarifications referred to previously have been addressed. The Pre-Start Up Safety Review and operations walk down have been concluded, enabling IOG, its pipeline, and platform operator ODE Asset Management, and Bacton terminal operator Perenco UK Limited each to be fully satisfied to commence the backgassing process today," IOG said Friday afternoon.
"Backgassing involves reverse flow of gas from the terminal to pressurize the pipeline system up to the safe operating window for start-up, with final function tests of equipment and safety systems before forward flow can begin. Subject to weather and logistics, the backgassing and well start-up sequence is likely to take approximately one week, with first IOG sales gas to be received onshore rapidly thereafter," IOG said.
Andrew Hockey, CEO of IOG, said: “I’m very pleased to say that the onshore Saturn Banks Reception Facilities (SBRF) have now been fully commissioned and pipeline backgassing has started today. This is the final step to First Gas which we expect in approximately one week’s time. My thanks go to terminal operator Perenco who have worked very hard to ensure the onshore facilities are safe and ready for IOG’s first production.”
should see a tick up and hopefully see the news out for the weekend papers.
backgassing begins and some money in the bank soon to follow. Been a long slog for many in here (many a lot more than myself)
Let's get it off to someone else asap
Just took some more at 35p. Not long to go now :-)
I'm more than happy with that RNS. We are talking first gas in two weeks time!!! I was expecting a lot worse due to the weather and other issues lately.
Great news. Clock is ticking down
Thanks for that information GGIS.
I work in drilling but once we finish a well we move on and if truth be told I don't know the ins and outs of it at production stage
Good stuff. Just followed suit with a 5k top up
Couldn't agree more with GGIS. I'm not as long as him in this industry but I'm 17 years and worked many a Christmas day on a rig for example
Was just talking to the barge engineer on the rig about this as well.
On a brighter note there is normally plenty of such vessels off the Netherlands but Sailor will know more about the supply and demand of such things.
The rig I am on been hit very bad with covid. No one ill but seriously affected operations and we downmanned most crew. Starting back up on Saturday (the day I get off after 6 weeks. Plenty!)
Starting to gain some momentum now. Be interesting to see where we are in 5/6months
Good news and we march on again.
At a reasonable pace. Maybe on the up again today soon...m
Good luck to all that are happy with profit and thats the name of the game but i am certainly hanging around a lot longer. First gas is around the corner, drilling ongoing at the moment as well. Plenty to go here even not considering the current gas prices which are amazing. Hopefully touch the 40s before gas and we are all smiling
Hopefully we push on to 40ish over the coming weeks before news on production and with the drilling campaign.
Things looking prosperous here for a very good rise. Might need to raid the piggy bank again
I have a few punts here and there but I'm not a trader like the learned people in here.
I do work in oil and gas though.
Been in here a few years now. I truly believe we are sitting on a great investment. The next 3/4 months will show that imo.
To be honest, if we did end up delayed it's certainly not going to worry me waiting another month or so when been in here for a few years.
Not far away now. Looking forward to this. Only been in a couple of years but for the ones a lot longer it will certainly be a sweet moment
Couldnt agree more. This is another great step forward