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    North Sea GBA farm-out process progressing

    March 31, 2023
    Jersey Oil & Gas says talks are advancing with a UK North Sea operator concerning a farm-in to Jersey’s Greater Buchan Area (GBA) development in the UK central North Sea.
    Related To: Jersey Oil and Gas
    Courtesy Jersey Oil & Gas "Corporate Presentation May 2022"
    GBA and Surrounding Infrastructure
    GBA and Surrounding Infrastructure

    Offshore staff

    LONDON — Jersey Oil & Gas says talks are advancing with a UK North Sea operator concerning a farm-in to Jersey’s Greater Buchan Area (GBA) development in the UK central North Sea. 

    Heads of terms have been agreed on transferring a substantial interest in the GBA licenses to the other party, with a view to finalizing a fully termed agreement.

    An exclusivity period will remain in place until the end of April.

    Courtesy Jersey Oil & Gas "Corporate Presentation May 2022"
    The Greater Buchan Area, UK Central North Sea
    The Greater Buchan Area, UK Central North Sea

    03.31.2023

    Related

    Courtesy Jersey Oil & Gas' The Greater Buchan Area Development March 2021 presentation
    Greater Buchan Area development concept
    (Courtesy Jersey Oil & Gas)
    Schematic of the Greater Buchan Area project.
    (Courtesy Jersey Oil & Gas)
    Gba56 Jog
    (Courtesy Jersey Oil & Gas)
    Phase 1 will be centred around a single, normally manned, integrated wellhead, production, utilities and quarters platform at the Buchan field.