UK player IOG plc has kick-started production at another field, which is part of Phase 1 of its Saturn Banks Project in the UK sector of the North Sea, pumping it straight into the UK gas market.
Sanctioned in October 2019, the IOG-operated Saturn Banks Project – Phase 1 consists of Blythe, Elgood, and Southwark fields in the UK Southern North Sea. IOG holds a 50 per cent stake in this project and its partner CalEnergy Resources holds the remaining 50 per cent.
The project start-up was delayed in February 2022 due to stormy weather conditions, which hindered the execution of the final works required to bring it online. These issues moved the timeline for backgassing to the week beginning on 28 February and the first gas was pushed to the following week.
Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.