LONDON — Jersey Oil & Gas (JOG) has completed a farm-out transaction with NEO Energy in the UK central North Sea.
The two companies now each hold a 50% interest in the P2498 and P2170 licenses covering the proposed Greater Buchan Area (GBA) project, and they are moving closer toward finalization of the development plan, JOG said.
JOG’s next priority is to bring in a further GBA partner ahead of approval for the plan, while retaining a fully carried 20% to 25% interest in the development program.
