(Alliance News) -Â Jersey Oil & Gas PLC on Monday said it has established, and will lead, the Greater Buchan Area joint integrated studies agreement.
This will be conducted between neighbouring field operators to undertake and complete technical and commercial evaluation studies for collaborative development of the wider Greater Buchan Area, in the North Sea, which contains discovered oil and gas resources in excess of 200 million barrels of oil equivalent.
"We are delighted to be progressing this important study to evaluate the technical and commercial benefits of working together with neighbouring operators to potentially develop over 200 million barrels of discovered oil and gas within the wider Greater Buchan Area," said Jersey Oil & Gas Chief Executive Andrew Benitz.
Shares in Jersey Oil & Gas closed down 7.0% at 53.00 pence in London on Monday.
By Lucy Heming;Â lucyheming@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Jersey Oil & Gas plc (JOG)