Buchan Redevelopment is a conventional oil development located in shallow water in the UK and is operated by Jersey Oil and Gas. Discovered in 2006, Buchan Redevelopment lies in block 21/1a ALL and 20/5a ALL, with water depth of around 405 feet.
The project is currently in feasibility stage and is expected to start commercial production in 2025. Final investment decision (FID) of the project will be approved in 2022. The development cost is expected to be $1,400 m. The Buchan Redevelopment conventional oil development will involve the drilling of approximately nine wells and includes fixed platform.
Field participation details
The field is owned by Jersey Oil and Gas.
Production from Buchan Redevelopment
Production from the Buchan Redevelopment conventional oil development project is expected to begin in 2025 and is forecast to peak in 2026, to approximately 32,000 bpd of crude oil and condensate and 4 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2047.
Remaining recoverable reserves
The field is expected to recover 85.08 Mmboe, comprised of 83.54 Mmbbl of crude oil & condensate and 9.19 bcf of natural gas reserves.
Contractors involved in the Buchan Redevelopment conventional oil field
The key contractors involved in the Buchan Redevelopment project as follows.
Other Contractors: Schlumberger
About Jersey Oil and Gas
Jersey Oil and Gas Plc (Jersey Oil), formerly Trap Oil Group Plc is an upstream oil and gas exploration and production company. The company acquires, explores, develops and produces natural gas properties in the UK continental shelf. Its oil and gas properties include Homer Block, Cortina Block, Niobe Prospect Block, Magnolia Block and Romeo Discovery Block. Jersey Oil also has various licensing agreements with blocks such as Surprise and Nutmeg oil discoveries, Savannah, Bordeaux or Brule and Orchid. The company partners with other oil and gas companies for its exploration activities. Jersey Oil is headquartered in Saint Helier, the UK
Methodology
Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.