Execution of 32nd Offshore Licensing Round Award - Block 20/5e
Jersey Oil and Gas wins Merged Licence P2498, offshore UK. (Credit: Anita starzycka from Pixabay)
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 that, further to its announcement of 3 September 2020, the Oil and Gas Authority (“OGA”) has confirmed that the Merged Licence P2498 awarded to JOG in the 32nd Offshore Licensing Round was executed on the 10th February 2021.
Part block 20/5e is located within JOG’s Greater Buchan Area (“GBA”) development acreage and contains an extension of the J2 (well 20/05a-10Y) oil discovery.
This part block has been incorporated within Licence P2498 (Blocks 20/5a & 21/1a) awarded to JOG in the OGA’s 31st Offshore Supplementary Licensing Round that contains the Buchan oil field and the J2 oil discovery and form the basis of JOG’s GBA Core development.
Andrew Benitz, CEO of Jersey Oil & Gas, commented:
“I am pleased that the award of part block 20/5e has now been formalised. This represents a further step in delivering on our strategy of acquiring a controlling interest in the acreage that forms the Greater Buchan Area.”
Source: Company Press Release