This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Investment Highlights
Quality Development
- Experienced, well-funded joint venture established through farm-out transactions
- GBA hub development underpinned by lower risk Buchan field
- High-quality FPSO secured
- Portfolio feeder fields able to supplement the core Buchan development
Well-Funded
- Funded to Buchan first oil through farm-out transactions
- Full expenditure carry for JOG’s 20% interest in the approved Buchan development budget
- $18 million of the $38 million cash payments attributable to the two GBA farm-outs received
- Right-sized organisation
Strategic Focus
- Creation and monetisation of the GBA – delivering access to material cash receipts and a fully funded long-term stable income stream
- Balancing future potential growth and value crystallisation
- Highly experienced Board and executive team with a proven track record in growing companies in the energy sector and monetising exits
Supporting Energy Transition
- GBA development characteristics deliver the lowest full-cycle carbon footprint solution
- Buchan – field redevelopment involving reuse of existing infrastructure that’s electrification ready
- Creating a production hub in-sync with the UK’s oil and gas industry decarbonisation strategy – supporting new floating wind power developments