The Oil and Gas Authority (OGA) has initiated a brand new space plan to maximise financial restoration (MER) from the Greater Buchan space of the North Sea and is asking oil and gasoline operators to work collectively to develop the 150-300 MMboe estimated to be current within the space.

The Greater Buchan space, located within the Outer Moray Firth, options appreciable open, presently unlicensed acreage, together with a number of undeveloped discoveries. To maximize restoration of the potential recoverable sources within the space, the OGA will open a supplementary licensing spherical in 1Q 2019 which might be supported by newly obtainable knowledge.


The OGA is encouraging firms to accomplice with one another and collaborate to progress exploration and new developments within the space.

In advance of the spherical, the OGA will host an data session in Aberdeen for oil and gasoline firms on Nov. 15, 2018. At the occasion, the OGA will present an summary on the timing and means of the supplementary license spherical and provides additional particulars on the supporting data which might be made obtainable.

Andy Samuel, OGA chief government, mentioned: “A variety of firms have already been exhibiting excessive curiosity within the Greater Buchan Area, the thrilling exploration potential and the numerous undeveloped discoveries. That’s why we’ve taken the choice to make use of a supplementary licensing spherical coupled with an space plan to assist unlock the development of what might be important remaining sources.

p.p1 p.p2 span.s1 span.s2

“There’s a lot to play for throughout this complete area so we’re strongly encouraging potential operators to look past particular person alternatives and actively accomplice with different like-minded firms to probably carry ahead mutually useful clusters of developments.”


p.p1 p.p2 span.s1 span.s2

Please go away feedback and suggestions beneath

whats up

Read more at Source link


Please enter your comment!
Please enter your name here