Jersey Oil and Gas (JOG) is a London listed UK Energy Company focused on creating shareholder value through asset development and the execution of accretive transactions. Our management team is highly experienced in growing energy businesses and has a strong track-record of value creation in the UK North Sea oil and gas sector.

Our key asset is a major new development in the heart of the UK Central North Sea called the Greater Buchan Area (GBA).  The GBA comprises two licences, with the strategically important area covering the Buchan redevelopment project having been awarded to JOG in July 2019 by the North Sea Transition Authority (NSTA) as part of an Area wide plan to encourage a co-ordinated and collaborative area wide development of multiple resources.  Having aggregated these key licences and successfully matured the overall GBA development strategy, in April 2023 JOG sold a 50% working interest and operatorship in the licences to NEO Energy (NEO).  This important step for moving the development plan forward was followed in November 2023 by JOG executing agreements to sell a further 30% working interest to Serica Energy (Serica), with this transaction due to complete in Q1 2024.

The GBA is estimated to have over 100 million barrels of discovered and recoverable oil volumes, which includes the Buchan field, an oil redevelopment project, and several tie-back opportunities of existing discoveries together with significant additional exploration upside opportunities.  In November 2023, the GBA joint venture announced terms to acquire the “Western Isles” floating production, storage and offloading (FPSO) vessel, which is currently operating in the UK North Sea.  The FPSO is to be re-deployed and used as the processing facility for the planned redevelopment of the Buchan field.

In line with our low carbon strategy and the net-zero objectives for our industry, the FPSO will undergo modifications to make it “electrification-ready” upon its redeployment.  This will enable the vessel to have the ability to be connected to one of the anticipated floating wind power developments that are intended to be located in close proximity to the GBA following the recent Innovation and Targeted Oil & Gas (INTOG) licence awards made by Crown Estate Scotland.

The planned Buchan redevelopment project represents a significant opportunity for the UK.  A significant portion of the capital expenditure is expected to be directed towards the local supply chain, which will underpin job creation and further investment in the sector through the life of the project and on into the production and operations phase of the development.

Experienced management team

Jersey Oil and Gas is run by a management team with an impressive track record of growing energy businesses organically through deal making and through accretive acquisitions.  Our team has significant joint venture experience, managing major development projects and asset ownership throughout the UK North Sea and internationally. See our team here.

Execution of Strategy

In 2023, Jersey Oil and Gas’s management team delivered on its farm-out strategy, selling working interests in the GBA development to industry leaders NEO Energy and Serica Energy.  In aggregate, the two transactions result in JOG retaining a material 20% interest in the GBA licences, a full carry on the capital expenditure required to bring the Buchan field into production and a number of substantial milestone cash payments.  See full deal terms here.

PROVEN ABILITY TO BUILD A VALUABLE ASSET PORTFOLIO

Jersey Oil and Gas has grown significantly since its inception, through the drilling of the Verbier discovery in 2017 and latterly through the 2019 award of licences in the GBA. Our strategic area focus has yielded encouraging results following successful farm-outs and the GBA is on track to become an important energy asset for the UK, providing vital energy security, investment and job creation delivered with a low carbon vision.

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Number of years combined UK North Sea experience of the management team