Jersey Oil & Gas, an independent upstream oil and gas company focused on the UKCS, has announced a significant increase in 2C contingent resource estimate for the Buchan oil field, within the Greater Buchan Area (GBA) in the Moray Firth.
Over 50% increase
The P50 estimate of technically recoverable resources for the Buchan oil field now stands at 126 million stock tank barrels (MMstb), representing an increase of over 50% on previous estimates derived from decline curve analysis. The expected ultimate recovery factor is 54% of original oil in place, with historic field production having recovered 29% of the P50 STOIIP estimate
Having fully incorporated all available subsurface information and successfully history matched 36 years of production data, Schlumberger completed dynamic reservoir modelling of the P50 stock tank oil initially in place (STOIIP). The new dynamic model used inputs from the high resolution 2018 PGS 3D seismic survey data, together with the static and dynamic well data and field production history.
The project workstream has now been independently peer reviewed as part of a wider scope reviewing the development concept by Vysus Group (formerly Lloyds Register’s Energy Business), a global engineering and technical consultancy.
The Devonian Buchan sandstone reservoir is a well-connected, dual porosity and permeability system, with a light sweet crude at 33.5° API. Planned future production will be achieved using optimally located deviated wells placed high in the structure with water injection.
Link to video on Buchan field and development.