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Petrofac Secures Well Management Contract for IOG Core Project Phase 1

Petrofac’s engineering and production services business (EPS) secured a well management contract for phase 1 of Independent Oil and Gas’s (IOG) core project. The management contract comes nearly a month after IOG received approval from the UK Oil and Gas Authority on the core project’s phase 1 plan, which begins in 1H 2021.

Petrofac will support IOG’s development of the Southwark, Blythe, and Elgood fields in the UK southern North Sea (SNS). The five-well contract scope covers the planning, execution, and close-out segments of the phase 1 drilling program; Petrofac will act as the well operator on behalf of IOG.

Petrofac added that the planning stage includes the detailed well design, risk assessment, and management of well-related regulatory requirements. The company will also manage well engineering, procurement, and logistics; assure well construction and integrity; and provide onshore and offshore personnel to support the drilling campaign during the execution phase.

The management contract also follows a sizeable engineering, procurement, construction, and installation (EPCI) contract awarded in May to Subsea 7. The EPCI contract will cover the subsea, umbilicals, risers, and flowlines (SURF) work on phase 1, which is almost entirely lump sum in nature.

IOG is 50% owner and operator of three fields in the UK sector of the SNS, which collectively will form phase 1 of IOG's core development. The remaining 50% interests are held by CalEnergy Resources Limited. First gas is planned for July 2021.

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