Independent Oil and Gas signed off the Blythe and Southwark platforms as mechanically complete earlier this month. Further to achieving this milestone and the arrival of the Noble Hans Deul rig at Elgood in early April, the Company can also confirm that it has now, as planned, fully drawn its bond escrow account into unrestricted cash. 

The two normally unmanned installation (NUI) platforms were constructed by contractor HSM Offshore (HSM) at their yard in Schiedam, Netherlands. In addition to mechanical completion, onshore commissioning and system testing activities are already well underway and expected to be completed in May. The transportation barges are now at the HSM quayside in preparation for load-out. Once yard departure checks are completed, the platforms will be ready for sail-away. Installation of both platforms is scheduled to be completed before the end of Q2, in preparation for first gas in late Q3. 

To accompany this update, IOG has today released a Phase 1 platform construction video as part of  its 2021 video series. Shot mainly over recent weeks, it provides a brief introduction to the topsides and on-board equipment, and can be viewed here: https://bit.ly/2S5aWBd 

Andrew Hockey, CEO of IOG, commented: 
"Completing the Blythe and Southwark platforms is another key step forward for IOG in executing Phase 1 and laying the foundations for further growth. HSM have done an excellent job in maintaining the construction schedule despite the pandemic challenges. The focus now turns to completing onshore commissioning work, load-out, transport and installation, all of which fall under the same HSM contract. 

As small, remotely-operated installations, the Blythe and Southwark platforms will help us to minimise ongoing costs and carbon intensity - key elements of our operating philosophy as we look to scale up an environmentally low-impact UK gas development and production business. 

Our latest video provides investors direct insight into both platforms with an on-board view of their key components before they are transported to their field locations later this quarter." 

Jaco Lemmerzaal, Managing Director of HSM, commented: 
"Working closely with IOG with a joint focus on efficient delivery, we are very proud of the construction of the Blythe and Southwark platforms being achieved on schedule. 

With the onshore phase in the yard nearing completion, our next priority is the safe installation of both platforms offshore. We wish IOG success on achieving first gas later this year."

KeyFacts Energy: IOG UK country profile