Jersey Oil and Gas has awarded contracts to Rockflow Resources and Petrofac for the development of its licences in the Greater Buchan Area (GBA).
Greater Buchan Area
North Sea minnow Jersey Oil and Gas (JOG) saw its share price skyrocket by 140% yesterday after an announcement on new licensing awards.
A handful of firms have been awarded blocks in a specific offshore licensing round to develop the Greater Buchan Area in the North Sea.
North Sea acreage containing up to 300 million barrels of oil has been put up for grabs.
The Oil and Gas Authority (OGA) will unleash a treasure trove of data to help unlock up to 300 million additional barrels from the Greater Buchan Area.
The Oil and Gas Authority (OGA) has announced it will open a new licensing round, targeting up to 300million barrels of oil in an under-developed area of the North Sea.