The Harvey licence, P2085, was awarded to IOG at 100% Working Interest in December 2013. The Oil and Gas Authority (“OGA”) has confirmed the continuation of licence P2085, which contains the Harvey discovery, until 20 December 2017. A commitment to drill an appraisal well is required to extend the term further and IOG would expect to make that commitment later in 2017.
During 2016, IOG completed a detailed 3D seismic reprocessing and interpretation project across the wider Blythe area and acquired additional 3D seismic data covering an area to the east of the Harvey well (48/23-2) drilled by Arco in 1984. Based on this work, IOG’s estimates of the gas in place and recoverable gas resources at the Harvey discovery were increased significantly to the following:
(Source: IOG internal view)
Harvey is located in the well understood Leman Sandstone Formation play. If successfully appraised, it has the potential to be the largest gas discovery in the IOG portfolio and significantly enhance the economics of IOG’s Southern North Sea business.