RE: A BORING RNS3 Dec 2023 18:43
Buchan Redevelopment is a conventional oil development located in shallow water in the UK and is operated by Neo Energy Group. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Buchan Redevelopment was discovered in 2006, lies in block 21/1a ALL and 20/5a ALL, with water depth of around 405 feet.
The project is currently in feed stage and is expected to start commercial production in 2026. Final investment decision (FID) of the project will be approved in 2024. The development cost is expected to be $900 m. The Buchan Redevelopment conventional oil development will involve the drilling of approximately nine wells and includes FPSO.