Offshore staff
LONDON – Rockflow Resources has issued its report for operator Jersey Oil & Gas on resources in the Greater Buchan Area in the UK central North Sea.
Britain’s Oil & Gas Authority awarded JOG the surrounding license P2498 in July. It includes the previously developed Devonian Buchan oil field, the J2 and Buchan Andrew oil discoveries, and the Capri prospect.
Rockflow estimates recoverable volumes as follows:
Previous operator Talisman shut down production from Buchan early due to safety concerns over the aging production facilities, which the company subsequently removed.
The field produced almost entirely through natural depletion: JOG believes the application of modern technologies and practices could extend production by a further 20 years.
Equinor has decided not to exercise a three-month option to take a 50% interest in blocks 20/5a and 21/1a, containing Buchan and J2. But the Equinor-operated Verbier oil discovery, in which JOG is also a partner, could potentially be tied back to a new hub at Buchan.
This and other tie-ins could boost the recoverable resource to 144 MMbbl, which would make this the largest new area hub in the UK central North Sea since Golden Eagle, JOG said.
Equinor will continue to assess further exploration opportunities in the P.2170 (Verbier) license, working with JOG to maximize economic recovery in the area.
JOG has initiated concept appraisal and selection phase activities for the Greater Buchan Area development, and aims to submit a field development plan in 2022.
10/08/2019
