OUR ASSETS

Buchan & J2

Licence: P2498 Blocks 20/5a, 20/5e & 21/1a
Area: North Sea

Licence P2498 is a Straight to Second Term licence and, as such, does not have an associated minimum work programme attached to it.  However, JOG has agreed with the NSTA that certain work will be undertaken within certain timescales (“Milestones”). These Milestones are related to the redevelopment of the Buchan oil field and to the development of the J2 oil discovery.

The Second Term duration of the licence is until February 2025.

Blocks 20/5a, 20/5e and 21/1a contain the Buchan oil field, the J2 (well 20/5a-10Y) oil discovery and the Buchan Andrew oil discovery.

On 17 November 2023, JOG announced the acquisition of the ‘Western Isles’ Floating, Production, Storage and Offloading (FPSO) vessel. The FPSO will be used as the processing facility for the planned redevelopment of the Buchan field.

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Verbier

Licence: P2170 Blocks 20/5b & 21/1d
Area: North Sea

Blocks 20/5b and 21/1d were awarded as a Traditional Licence in the 28th Licencing Round. The blocks lie approximately 100km northeast of Aberdeen, close to the Buchan and Tweedsmuir North and South oilfields and straddle the western end of the North Buchan Trough.

The licence is now in its Second Term with all licence working obligations having been fulfilled.  The Second term duration is until August 2026.

P2170 contains the Verbier oil discovery and three drill ready prospects in Verbier Deep, Wengen and Cortina NE (J64).

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Athena

Licence: P1293 Block 14/18b
Area: North Sea

Block 14/18b is located in the North West Witch Ground Graben in the Moray Firth and contains the Athena oil field.

On 21st December 2012 Trapoil completed the acquisition of a 15 per cent. working interest in Athena from Dyas UK Limited.

Athena ceased production in January 2016.

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