JOG’s management team has multi-faceted technical and commercial experience across the oil and gas industry, including decades of active experience in the North Sea working for major and leading independent oil and gas companies. But it is not just experience that makes a company, attitude is as important.
From the start JOG, has created a work culture that fosters a nimble and innovative ambition in all our team, driven out of necessity, as from the start, we had to create something from nothing. This experience and attitude positions the company well for the future.
JOG’s strategic focus on a core area within the Central North Sea has ultimately led to significant asset growth so that we now own and operate the new Greater Buchan Area (“GBA”) development project which with combined estimated recoverable oil volumes net to JOG of 190 million barrels and exploration upside estimated at over 200 million barrels makes this new area hub project the largest new development in the Central North Sea since Golden Eagle.
In addition to the Verbier oil discovery the P2170 licence also contains high impact exploration upside in the Cortina prospect, the recently mapped Wengen prospect and Verbier deep prospect. In aggregate over 160 million barrels of prospective resources have been mapped by JOG across P2170, using the latest 3D seismic survey that was acquired in 2018.
In addition to our success in building a significant asset portfolio across the GBA, we have actively pursued a production-focused acquisition strategy and our capabilities in this regard have advanced considerably during this time. We have thoroughly evaluated, both technically and commercially, over 50 production field interests in the North Sea, thereby building our knowledge-base and we remain single-mindedly focused on identifying and securing successful transactions to grow the group’s business, for the benefit of shareholders.
Rolling on from our launch in 2014, through our leadership the company has grown considerably and JOG is very well positioned to grow its business further and achieve our strategic objective of building a mid-tier upstream oil and gas company.