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Pin to quick picksJersey Oil&gas Share News (JOG)

Share Price Information for Jersey Oil&gas (JOG)

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Share Price: 166.50
Bid: 165.00
Ask: 168.00
Change: 17.00 (11.37%)
Spread: 3.00 (1.818%)
Open: 150.50
High: 166.50
Low: 157.00
Prev. Close: 149.50
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Jersey Oil planning to electrify Greater Buchan development

Wed, 02nd Jun 2021 11:27

(Sharecast News) - UK North Sea-focussed upstream oil and gas company Jersey Oil & Gas updated the market on operations at its Greater Buchan Area (GBA) development project on Wednesday, reporting that subsurface evaluations and an independent peer review of subsurface and facilities concept select scopes had been completed.
The AIM-traded firm said a concept select report had been issued to the UK Oil and Gas Authority (OGA), outlining that the preferred GBA development concept was a fully-electrified 'net-zero' solution.

That was estimated to emit carbon at a rate of less than one kilogram of carbon dioxide per barrel of oil equivalent produced, which Jersey said was "significantly below" the North Sea average of about 22 kilograms per barrel produced.

A 'supply chain action plan' had also been issued to the OGA, with an evaluation of export pipeline options underway.

In line with its strategy to electrify the GBA development, applications for a UK electricity grid connection had been submitted, and a pipeline and subsea electricity cable survey contract awarded.

In addition to being economically attractive to electrify the planned Buchan platform, Jersey said the installation of a subsea electricity cable had the potential to facilitate the electrification of other nearby platforms, with collaboration efforts said to be ongoing.

Front-end engineering and design tendering was ongoing, and an application had also been made to the OGA to be appointed as Offshore Safety Directive installation operator.

A farmout process was also underway, with "broad interest and participation" reported from multiple parties.

"The submission of the concept select report to the OGA represents a significant milestone for Jersey Oil & Gas in our journey to deliver maximum value from the Greater Buchan Area," said chief executive officer Andrew Benitz.

"Our chosen development concept ensures that, through electrification, the GBA Development could produce less than one kilogram of carbon dioxide per barrel produced; fully aligned with the UK's 'net-zero' targets.

"The submission of the CSR ahead of schedule is testament to the growing project team's continued hard work."

At 1017 BST, shares in Jersey Oil & Gas were up 2.01% at 152p.
More News
26 Feb 2024 09:08

Jersey Oil, Serica complete farm-out agreement in Greater Buchan Area

(Alliance News) - Serica Energy PLC and Jersey Oil & Gas PLC on Monday said they have completed the Greater Buchan Area farm-out agreement.

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23 Nov 2023 11:49

Jersey Oil agrees to farm out interest in Greater Buchan to Serica

(Alliance News) - Jersey Oil & Gas PLC on Thursday said it agreed to farm-out a 30% interest in the Greater Buchan Area licenses to Serica Energy UK Ltd, a subsidiary of Serica Energy PLC.

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23 Nov 2023 10:58

AIM WINNERS & LOSERS: Jersey Oil & Gas agrees farm-out at Buchan

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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17 Nov 2023 13:02

Jersey Oil agrees acquisition of Western Isles vessel

(Sharecast News) - Jersey Oil & Gas announced a significant development in its operations in the UK Continental Shelf region of the North Sea on Friday.

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17 Nov 2023 10:36

AIM WINNERS & LOSERS: Parkmead revenue up; Jersey O&G buys vessel

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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17 Nov 2023 10:33

Jersey Oil & Gas shares jump as Buchan field partners agree vessel buy

(Alliance News) - Jersey Oil & Gas PLC on Friday said that it has agreed the acquisition of the Western Isles floating production, storage and offloading vessel alongside its other Buchan field partners.

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17 Nov 2023 09:03

LONDON MARKET OPEN: Stocks up despite UK retail sales growth miss

(Alliance News) - Stock prices in London opened higher on Friday, despite weaker-than-expected October retail sales figures for the UK.

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14 Sep 2023 12:05

EARNINGS: Jersey O&G and World Chess losses widen, Arecor narrows

(Alliance News) - The following is a round-up of earnings updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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4 Jul 2023 16:51

Jersey Oil granted extension to Verbier licence

(Sharecast News) - Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK continental shelf region of the North Sea, announced on Tuesday that the North Sea Transition Authority approved an extension to the second term of the P2170 'Verbier' licence.

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4 Jul 2023 14:26

IN BRIEF: Jersey Oil & Gas finalises development plan, extends licence

Jersey Oil & Gas PLC - UK continental shelf-focused upstream oil and gas company - Says North Sea Transition Authority has approved an extension to the second term of the P2170 "Verbier" licence by three years to August 29, 2026. Jersey Oil & Gas requested the extension to prepare a field development plan for Verbier as part of a development plan for the Greater Buchan Area.

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22 Jun 2023 12:12

Jersey Oil & Gas completes farm-out with NEO Energy at Greater Buchan

(Alliance News) - Jersey Oil & Gas PLC on Thursday said it has completed its farm-out transaction with NEO Energy in the Greater Buchan Area in the North Sea.

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13 Jun 2023 15:54

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HC Slingsby PLCAGM
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IP Group PLCAGM
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Bay Capital PLCAGM
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Corero Network Security PLCAGM
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Curtis Banks Group PLCAGM
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7 Jun 2023 09:37

Jersey Oil & Gas hails approval of second term to Buchan licence

(Alliance News) - Jersey Oil & Gas PLC on Wednesday said that the North Sea Transition Authority approved an extension to the second term of its P2498 Buchan licence.

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24 May 2023 14:22

Jersey Oil & Gas narrows annual loss and claims "attractive" prospects

(Alliance News) -Jersey Oil & Gas PLC on Wednesday said its loss narrowed during 2022 and that it looks forward to "unlocking" the value of its Greater Buchan Area development project as it moves towards production.

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6 Apr 2023 16:05

Jersey Oil sells 50pc stake in Greater Buchan Area

(Sharecast News) - Jersey Oil & Gas announced an agreement to sell a 50% stake in its Greater Buchan Area (GBA) licences on Thursday, to NEO Energy - an independent upstream oil and gas company backed by private equity investor HitecVision.

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