IOG considers that the Harvey structure is a discovery in which gas has been proven by well 48/23-2 drilled by Arco in 1984. The Harvey licence, P2085, was awarded to IOG at 100% working interest in December 2013 in the 27th Licensing Round. The Oil and Gas Authority (“OGA”) has confirmed the continuation of licence P2085, which contains the Harvey discovery, until 20 December 2019. A commitment to drill an appraisal well on the Harvey structure has been made and must commence by 20 September 2019. In May 2018 IOG announced the successful application of the licence to the east of Harvey in Block 48/24a, licence P2441. This licence award secured 100% of the Harvey structure on the mid-case and upside cases of the mapped structure.
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. This work was shared with ERC Equipoise Limited who in November 2017 estimated the unrisked prospective resources as follows: -
CPR Geological Chance of Success (50%)
(Source: ERC Equipoise CPR November 2017)
During 2018 IOG completed further 3D-seismic reprocessing across the Harvey area covering both licences, thereby fulfilling the 30th Licensing Round commitment on licence P2441.
Seismic reinterpretation and re-mapping is underway in order to optimise the appraisal well location.
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 could significantly enhance the economics of IOG’s Southern North Sea business.