News Oil & Gas

Orcadian completes 81.24% Pilot farm-out to Ping

Orcadian Energy plc has completed the 81.24% farm-out of central North Sea licence P2244, containing the Pilot oil field, to Malaysian operator Ping Petroleum UK plc. TECHNOLOGY Discovered in 1989, appraisal of Pilot showed “excellent quality reservoir and contains 263MMbbl of a viscous oil”. Orcadian said that Ping, focused on shallow water offshore production and […]

Finance News Oil & Gas

Block prepares farm-out process for Georgia gas

Block Energy plc is preparing the farm-out process for the company’s project III, comprising blocks XIB and XIF, in Georgia. STRATEGY The project spans the three fields of Patardzueli, Rustavi and Teleti, which are all under a PSC until 2048. Operations focus on the “multi-tcf undeveloped gas resource” within the Lower Eocene and Upper Cretaceous […]

Legal News Oil & Gas

JOG granted further 18 months for Buchan

Jersey Oil & Gas plc (JOG) has received regulatory approval for an 18-month extension until 28 February 2025 to the second term of its P2498 Buchan licence in the central North Sea. FARM-OUT The North Sea Transition Authority (NSTA) also granted permission for the company to assign a 50% working interest in the licence and […]