Independent UKCS producer Serica has concluded its farm-deal with Jersey Oil & Gas (JOG) for 30% non-operated interests in the P2498 and P2170 licences (together the Greater Buchan Area (GBA). The other partner is NEO Energy which is the operator with 50%.
Serica may now participate in the re-development of the Buchan field, now called Buchan Horst and other potential projects in the GBA, it said in a stock exchange announcement February 26.
Serica paid JOG $7.5mn and said the low-carbon-intensity asset was the sort of project the UK needs as part of the energy transition.
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