Jersey Oil & Gas Plc (LON:JOG) has shared its vision for resuming future production from the Buchan oil field, the core part of our development plans for the wider Greater Buchan Area.
On January 26, Jersey released new and upgraded contingent resource estimates for the Buchan oil project in the North Sea.
Following dynamic reservoir work conduced by Schlumberger the company has set P50 contingent technically recoverable resources of 126mln barrels of oil for the Buchan oil field, which will be the central part of the Greater Buchan Area (GBA) hub project.
It marked an improvement from a prior estimate of around 82mln barrels, and lifts the whole GBA inventory to 162mln barrels.
