PGS Wraps Up 3D Shoot Over P.2170 Licence on UKCS

Petroleum Geo-Services (PGS) has completed the 3D seismic survey over the P.2170 licence in the Moray Firth area, Jersey Oil & Gas said on Thursday.

Delivery of the final imaged data by PGS from the survey continues to be expected in late Q1 2019.

This data will be integrated with the results from the Verbier appraisal well, scheduled for drilling late Q3/early Q4 this year, which, in a success case, will be an important step for strategic planning as the Verbier project progresses into a potential future development phase, Jersey O&G said.

Andrew Benitz, CEO of Jersey Oil & Gas, stated: “We look forward to achieving a comprehensive update of our geological and geophysical understanding of the greater P.2170 licence area, integrating the results of the forthcoming Verbier appraisal well with the PGS newly acquired, high quality 3D dataset.

“The information to be derived from the appraisal well, together with the new 3D data, will be an important step towards the potential future development of the Verbier discovery and will facilitate our evaluation of other drillable prospects in the P.2170 licence area.”

Jersey Oil & Gas owns an 18% interest in the P.2170 licence, Blocks 20/5b & 21/1d, Outer Moray Firth, in which the operator, Equinor UK, owns a 70% interest and CIECO V&C  owns a 12% interest.

In October 2017, the company announced the Verbier oil discovery, with initial operator estimates of gross recoverable resources of between 25 to 130 million barrels of oil equivalent.