Jersey Oil & Gas plc’s joint venture has secured a further 24 months to the second term of its North Sea licence P2498 to complete the field development plan for the Buchan field. CASH The company estimates the Buchan field contains gross discovered oil and gas resources of approximately 70 MMboe (95% oil). Project partners, […]
Tag: NEO Energy
Buchan first oil delayed pending emissions guide
Jersey Oil & Gas plc partner in the Buchan Horst project will “materially slow” activities while awaiting new government environmental guidance for oil and gas firms. LICENCE Operator NEO Energy and its owner HitecVision will wait for clarity “around the UK regulatory and fiscal framework so that the full impact can be assessed.” “This will […]
Buchan first oil deferred to 2027
Jersey Oil & Gas plc said that first production from the Buchan field has been deferred to late 2027 due to uncertainty of financial policies following the early General Election in July. FDP Operator NEO Energy is currently working on the field development plan, the completion and approval of which is linked to “fiscal clarity” […]
JOG-NEO acquire Western Isles FPSO for Buchan
Jersey Oil & Gas plc (JOG) and NEO Energy have acquired the ‘Western Isles’ floating production, storage and offloading vessel to redevelop the Buchan field. PREPARATIONS In operation since early 2017, the processing facility is owned by operator Dana Petroleum (E&P) Ltd (76.9188%) and NEO (23.0812%). The vessel is scheduled to come off station from […]
JOG marks ‘clear pathway’ to monetise GBA
Jersey Oil & Gas plc (JOG) said it had a clear pathway to its commercial future following the farm-out of its Greater Buchan Area licences. PREPARATIONS Interim six-month results to 30 June, show the company held approximately £5.6 million cash with no debt. Loss for the period, before and after tax, was approximately £2.9m (2022: […]
JOG extends Verbier licence by three years
Jersey Oil & Gas plc (JOG) has been granted a three-year extension for the P2170 Verbier licence as it finalises plans for the Great Buchan area (GBA) development. FIELD DEVELOPMENT PLAN The North Sea Transition Authority (NSTA) granted the second-term extension until 29 August 2026, allowing the company and farm-out partner NEO Energy time for […]