Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK Continental Shelf ('UKCS') region of the North Sea, is pleased to announce the key findings of its detailed and comprehensive Concept Select Report ('CSR') in respect of its Greater Buchan Area ('GBA') Development Project which contains an aggregate 172 million barrels of oil equivalent ('MMboe') 2C contingent resource estimates of light sweet crude and associated gas.

The planned development is centred on resuming production at the Buchan oil field and producing the J2 and Verbier oil discoveries as well as other existing and yet to find discoveries within the GBA as future upside.

Highlights

A three-phase development centered around a single integrated wellhead, production, utilities and quarters platform located at the Buchan field - the GBA hub

The development concept is based on P50 Technically Recoverable Resource estimates of, in aggregate, 172 MMboe of light sweet crude and associated gas within the Core GBA, which includes the Buchan oil field and J2 and Verbier oil discoveries

JOG aims to deliver production from the planned GBA Development Project at an industry leading carbon intensity level due to Platform Electrification, as seen in certain fields in the Norwegian sector

Overall carbon emissions from the GBA with platform electrification estimated by management at

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