IOG, the Net Zero UK gas and infrastructure operator focused on high return projects, provides an operational update.

On 23 May, the Company announced that Saturn Banks production had been shut in by Bacton terminal operator Perenco UK (PUK) due to a drainage system deficiency in the terminal condensate stabilisation unit's (CSU) two recycle compressors. The Company announced that the shut-in was expected to last for approximately a week before a phased return to production could begin.

On 31 May, following a PUK modification to one of the CSU's compressors, Saturn Banks production was duly restored at an initial level of approximately 30 mmscf/d. As previously indicated, modification of the second compressor is expected to take approximately one further week. This will then enable Saturn Banks production to be gradually restored to its prior stabilised levels of 55-65 mmscf/d over the following weeks. This is expected to be a gradual process to manage the high levels of liquids currently being worked through the Saturn Banks Pipeline System.

Andrew Hockey, CEO of IOG, commented:
"IOG, Perenco and ODE Asset Management have collaborated well to facilitate rapid execution of the PUK terminal modification and allow our production to be resumed at 30 mmscf/d. We look forward to a phased build up to double that level as fast as technically feasible over the coming weeks."

KeyFacts Energy: IOG UK country profile