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Operations
We have constructed a high-quality UK North Sea licence portfolio focused on the “Greater Buchan Area” (GBA). At the heart of our assets is the redevelopment of the Buchan oil field, with regulatory approval targeted for 2024 and first production in late 2026.
- Quality Portfolio The GBA consists of two licences, P2498 and P2170, which contain the Buchan redevelopment project, the J2 and Verbier oil discoveries and several drill-ready exploration prospects
- Strategic Focus
JOG established the GBA by consolidating the licence interests and obtaining the control and flexibility to shape the optimal way forward - Material Resource Base
In aggregate the GBA licences are estimated to contain gross discovered oil and gas resources of over 100 MMboe - Route to Monetisation
JOG completed pivotal transactions in 2023 to secure two high-quality industry partners and funding to redevelop the Buchan oil field - Valuable Equity Interest
JOG owns a 20% non-operated interest in the GBA, with funding to Buchan first oil provided by the GBA partners - Strong Industry Partners NEO Energy (50% interest, Operator) and Serica Energy (30% interest) are the fifth and ninth largest producers in the UK North Sea