HitecVision backed exploration and production vehicle steps in to advance North Sea liquids project



Neo Energy, the UK exploration and production company backed by Norwegian investor HitecVision, has been revealed as the major producer that has acquired an interest in the Greater Buchan redevelopment opportunity in the UK North Sea.

Project owner Jersey Oil & Gas announced on 6 April it had agreed to farm out a 50% operator interest in the Greater Buchan Area (GBA) licences to Neo, the fifth-largest producer in the UK continental shelf.

The Greater Buchan redevelopment is, according to Jersey, the third-largest undeveloped liquids project in the UK, behind Rosebank and Cambo.