Jersey takes control of North Sea Verbier oil discovery

May 20, 2020
Jersey Oil & Gas has completed a transaction with Equinor UK giving it operatorship and a 70% interest in North Sea license P2170 (blocks 20/5b and 21/1d).

Offshore staff

LONDON – Jersey Oil & Gas has completed a transaction with Equinor UK giving it operatorship and a 70% interest in North Sea license P2170 (blocks 20/5b and 21/1d).

Terms include two milestone payments and a royalty based on future volumes produced from the development of the Verbier Upper Jurassic (J62-J64) oil discovery.

JOG plans to incorporate Verbier as part of its plan for a new Greater Buchan Area development, possibly supplemented in future by other exploration prospects elsewhere on the license.

05/20/2020