The project will involve linking Buchan and finds made nearby to a new production facility. Jersey unveiled the results of the assessment yesterday as it launched a search for partners to help share the costs of the development, through a farm-out process. The results of the exercise will be followed with interest in the North Sea as the industry in the area faces an uncertain future. The downturn in oil and gas markets triggered by the coronavirus has prompted firms to cut their exposure to the North Sea. Sector-watchers have noted that some investors are shifting their attention to firms focused on renewables from fossil fuel producers amid the global drive to reduce carbon dioxide emissions.
The Barkby Group PLC upbeat as commercial property division makes up for struggles at pubs business
proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.
Biffa PLC says lockdown impact less severe than expected
proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.
Proactive news headlines: Argo Blockchain PLC, Gore Street Energy Storage Fund PLC, Inspired Energy PLC, Genedrive PLC
proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.
UK: Jersey Oil and Gas announces Greater Buchan Area Development Project Concept Select update
03 Mar 2021
Concept Select Report ( CSR ) in respect of its
Greater Buchan Area ( GBA ) Development Project which contains an aggregate
172 million barrels of oil equivalent ( MMboe ) 2C contingent resource estimates of light sweet crude and associated gas. The planned development is centred on resuming production at the
Buchan oil field and producing the
J2 and Verbier oil discoveries as well as other existing and yet to find discoveries within the GBA as future upside.
Highlights
A three-phase development centered around a single integrated wellhead, production, utilities and quarters platform located at the Buchan field - the GBA hub