LONDON – The Oil and Fuel Authority has awarded Jersey Oil & Gas 100% pursuits and operatorship of three blocks within the Larger Buchan Space of the central North Sea, beneath the UK’s 31st Supplementary Offshore Licensing Round.
It consists of the Buchan oil area and the J2 oil discovery (properly 20/5a-10Y).
The acreage is adjoining to license P2170 (blocks 20/5b and 21/1d) containing the Verbier (J62-J64) oil discovery drilled by Equinor in 2017. JOG has an 18% stake in this concession.
Based on the corporate, this new GBA acreage opens the potential to ascertain and function a brand new main space improvement encompassing over 100 MMboe of found assets and over 300 MMboe of potential assets.
Desk 1: GBA blocks awarded to JOG with related useful resource estimates.
(Supply: JOG Administration’s estimates primarily based on OGA info, information acquired by JOG from Repsol Sinopec Assets UK Ltd. and unbiased work accomplished by Rockflow Assets on behalf of JOG.)
The corporate will now begin work on a area improvement plan (FDP), topic to…