Jersey to lead study for collaborative development of wider Greater Buchan Area

UK-based Jersey Oil & Gas (JOG) has established and will lead the Greater Buchan Area joint integrated studies agreement between neighboring field operators in the North Sea. 

Illustration. Source: Flickr; Author: Ronnie Robertson – shared with permission of the author

JOG said on Monday that the study would undertake and complete technical and commercial evaluation studies for collaborative development of the wider Greater Buchan Area, which contains discovered oil and gas resources in excess of 200 million barrels of oil equivalent (boe).

According to the company, a key objective of the studies under the agreement is to establish whether a collaborative development would lead to a reduction in development costs and an increase in value for all participants in a new production hub in the area, potentially including electrification in line with the OGA’s Maximising Economic Recovery strategy for the UKCS and reducing CO2 emissions.

The fields, discoveries, and participants in the studies will be the Buchan, J2, and Glenn – operated by JOG, Verbier – operated by Equinor (pending JOG’s completion of the stake acquisition announced in January) alongside its partners Jersey Petroleum and CIECO, Avalon – operated by Ping Petroleum alongside its partner Summit Exploration and Production, and Leverett – operated by Zennor.



Andrew Benitz, CEO of Jersey Oil & Gas, said: “We are delighted to be progressing this important study to evaluate the technical and commercial benefits of working together with neighboring operators to potentially develop over 200 million boe of discovered oil and gas within the wider Greater Buchan Area.”

Scott Robertson, director of operations at OGA, added: “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.

“Oil and gas will remain an important part of the UK’s energy mix for the foreseeable future as we transition to net zero. The OGA is encouraged by the collaborative and energy-efficient example Jersey Oil & Gas is setting.”


Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.

Also, if you’re interested in showcasing your company, product, or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.

Share this article

Follow Offshore Energy Today

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Navingo Career Event

The Navingo Career Event is Europe’s biggest career event for the maritime…

read more >

Offshore Technology Conference (OTC) 2020 Postponed

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply