UK Politics

Jersey Oil and Gas expands Greater Buchan project area via UK licensing round


Jersey Oil and Gas PLC (LON:JOG) has expanded its position in the North Sea, securing an area that will become part of the Greater Buchan Area (GBA) development project.

The company, in a statement, announced it has been awarded a 100% interest and operatorship of, part-block 20/5e.

READ: JOG completes deal to take all of Verbier discovery

It noted that the acreage contains an extension of the oil discovery of the J2 well.

JOG added that it understands that the part-block will be incorporated within the area that contains the Buchan oil field and the J2 oil discovery. It forms the basis of the companys proposed GBA development plans.

"I am pleased that JOG has been awarded part-block 20/5e, which represents a further step towards delivering on our strategy of progressing the proposed future development of the Greater Buchan Area," said Andrew Benitz, Jersey chief executivRead More – Source