Jersey Oil and Gas has said it plans to launch a farm-out process later this year for its Greater Buchan Area in the North Sea, despite the Covid-19 and oil price crises.
Jersey Oil and Gas is back on the hunt for partners to develop its Verbier discovery after energy giant Equinor decided to sell back its 70% stake.
North Sea minnow Jersey Oil and Gas (JOG) saw its share price skyrocket by 140% yesterday after an announcement on new licensing awards.
Jersey Oil and Gas (JOG) has insisted there is “still plenty to play for” despite disappointing results at its Verbier discovery in the North Sea.
Bosses at Jersey Oil and Gas have said the company’s North Sea exploration ambitions won’t stop at the Verbier field in the near future.
The boss of acquisition focused oil and gas junior Jersey Oil and Gas said he believed the North Sea oil and gas industry has had its Northern Rock moment of panic and was now getting on with the task of reestablishing itself as a viable sector.
With the oil price hovering at $30/bbl, it is unsurprising that some are claiming that the North Sea is dead, however they could not be further from the truth.