Jersey Oil & Gas will lead a joint integrated studies agreement involving various operators in the Greater Buchan Area of the UK central North Sea.
(Courtesy Jersey Oil & Gas)
The main fields and operators involved in the Greater Buchan Area of the UK central North Sea.
Offshore staff
LONDON – Jersey Oil & Gas will lead a joint integrated studies agreement involving various operators in the Greater Buchan Area of the UK central North Sea.
This involves technical and commercial evaluation studies for a collaborative development of the wider Greater Buchan Area, where proven oil and gas resources exceed 200 MMboe.
According to the company, one of the chief objectives is to determine whether a collaborative development would reduce development costs and increase the value for all participants in a new production hub in the area, potentially including electrification.
All these considerations would comply with the Oil & Gas Authority's Maximizing Economic Recovery strategy for the UK continental shelf and reducing carbon dioxide emissions.
The main fields and operators are involved are:
Buchan, J2 and Glenn (Jersey Oil & Gas 100%)
Verbier (Equinor UK 70%, but subject to an acquisition announced on Jan. 27), with partners Jersey Petroleum (18%) and CIECO Exploration and Production (12%)
Avalon - Ping Petroleum UK (50%), in partnership with Summit Exploration and Production Ltd. (50%)
Leverett - Zennor Resources (100%).
Scott Robertson, Director of Operations at the OGA said: “I am delighted with this collaboration agreement in the Greater Buchan Area, particularly given collaboration was a key component of the OGA's vision for the Greater Buchan Area through the 31st Supplementary Licensing Round award in 2019.”
