UKCS: Formalities completeJOG acreage and prospect inventory. Source: JOG

UKCS: Formalities complete

The 31st Supplementary Offshore Licensing Round results have been announced by the awarded companies, covering the Greater Buchan Area and Inner Moray Firth.

Jersey Oil and Gas (JOG) received the following acreage in the Greater Buchan Area (“GBA”), adding 119 MMboe net discovered resources:

  • Licence P2497, block 20/4c, referred to by JOG as “Zermatt”
  • Licence P2498, blocks 20/5a and 21/1a, referred to by JOG as the “Buchan Blocks”, which includes the Buchan oil field and the J2 oil discovery
  • Licence P2499, block 21/2a, referred to by JOG as “Glenn”

JOG had granted Equinor a 3-month option (expires on October 22nd, 2019) over a 50% equity interest in the Buchan 20/5a and 21/1a blocks.

31st SLR – The Great Buchan Area. Source: JOG

According to JOG, a new hub development at the GBA area will provide attractive and maximized economic recovery. Area-wide collaboration is essential.

Baron Oil (15%) and its partners, Corallian Energy (Operator, 45%) and Upland Resources UK (40%) have been formally awarded  exclusive licenses over seven blocks and part blocks in the Inner Moray Firth (“IMF”):

  • Licence P2478, over blocks 12/27c, 17/5, 18/1 and 18/2, contains a new exploration play up-dip from the small 12/27-1 gas discovery (which also had oil shows), with Pmean recoverable Prospective Resources estimated by Corallian at 187 MMboe in the Dunrobin Prospect and 23.5 MMboe in the Golspie Prospect. The primary reservoir intervals for both prospects are sandstones of the Middle Jurassic Beatrice Formation and Early Jurassic Dunrobin Bay Group.
  • Licence P2470 includes blocks 11/23, 11/24c and 11/25b, surrounding the Wick Prospect, on which Baron Oil participated in a dry well (11/24b-4) at the beginning of 2019. These blocks contain the small Knockinnon oil discovery (8 MMbbl Pmean recoverable oil estimated by Talisman in 2000), together with the Forse Channel (4 MMbbls oil recoverable from Upper Jurassic “Buzzard” aged sandstones), Whaligoe, Camster, Camster South and Dunbeath Prospects.

Awarded blocks in the 31st SLR Inner Moray Firth area. Source: Baron Oil