Independent Oil and Gas (IOG) informed on Wednesday that the rig hired to drill the Skipper appraisal well, located in the UK North Sea, is being towed to the drilling location.

IOG recently said the well would be drilled with Transocean’s 1974-built semi-submersible rig Sedco 704.

The rig is now on contract with the oil company and operations are anticipated to start on Friday, July 22, 2016.

Skipper lies in Block 9/21a in license P1609 in the Northern North Sea and IOG is the 100% owner. The appraisal well is expected to take approximately 22 days to drill.

IOG further added that the loan agreements signed in December last year with GE Oil & Gas UK for £2 million and London Oil & Gas, part of London Group, for £2.75 million and £0.8 million have been extended to December 20, 2017, in line with a number of other service and equipment contractors on deferred payment terms for all or part of their costs on the Skipper well.