- Development and production company Independent Oil and Gas said it had awarded a well management contract to Petrofac for phase 1 of its core UK Southern North Sea gas development.

Extensive work had already been undertaken so far this year between the IOG and Petrofac teams under a letter of limited commitment to ensure all preparations for the 2021-to-2022 phase 1 drilling campaign would proceed to plan.

Petrofac had demonstrated that they had the 'right credentials and expertise to execute what will be a critical role in helping IOG to deliver a safe, productive and cost-effective five-well phase 1 drilling campaign kicking off in the first half of next year,' the company said.

At 9:21am: [LON:IOG] Independent Oil Gas PLC share price was +0.25p at 12.25p

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