In a new subsurface evaluation, Jersey Oil & Gas, a British-independent North Sea-focused upstream oil and gas company, has uncovered a new prospect, named Wengen, to complement its Verbier Deep, Cortina NE, and Zermatt drill-ready prospects. The four are estimated to host some 222 million bbl of P50 prospective resources, all in the immediate vicinity of Jersey’s planned GBA production facility.
The consolidated Greater Buchan venture comprises Buchan field (80 million bbl), Verbier (c25 million bbl), J2 (c20 million), and Glenn (14 million).
The new prospect, located in License P2170, is directly west of the Tweedsmuir field and should host some 62 million bbl of potential resources (P50), with the probabilistic range set at 31 million bbl at P90 (higher confidence) and 162 million for P10 (lower confidence). Probability of geological success is 22% for the prospect.
Contractor Rockflow previously estimated the recoverable resources in the GBA at 94.7 million bbl, including the parts within P2170.
In late November, Jersey announced it is taking full ownership of License P2170, which hosts most of the Verbier discovery, as part of the GBA.
In March, Jersey told investors the project is fully funded and that it intends to take the project to potential industry partners via a farm-out process.
An exploratory drilling campaign is being planned for 2022.