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Independent Oil and Gas completes the Blythe, Southwark platforms
StockMarketWire.com
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Independent Oil and Gas said it had signed off the Blythe and Southwark platforms as mechanically complete earlier this month.
The two normally unmanned installation platforms were constructed by contractor HSM Offshore at their yard in Schiedam, Netherlands.
The company also confirmed that it had now, as planned, fully drawn its bond escrow account into unrestricted cash.
'In addition to mechanical completion, onshore commissioning and system testing activities are already well underway and expected to be completed in May,' the company said.
'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,' it added.
At 9:33am: (LON:IOG) Independent Oil Gas PLC share price was 0p at 14p
Story provided by StockMarketWire.com
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