‘Heavyweight’ operator poised to purchase interest in large offshore UK project

One of the largest proposed offshore field developments in the UK North Sea has a potential new lease of life as a significant UK North Sea operator has agreed terms to farm-in to the project.

The Greater Buchan Area (GBA) redevelopment is, according to its owner Jersey Oil & Gas, the third-largest undeveloped liquids project in the UK, behind Rosebank and Cambo.

Phase one potential resources run to more than 100 million barrels of liquids on a best estimate basis.