Jersey Oil and Gas has said area plans to electrify central North Sea platforms are “building momentum”.
Last month Jersey reset the timeline for the flagship Buchan development in the outer Moray Firth, which had been due to be sanctioned in 2022, after announcing electrification would lead to an £80m “ green premium”.
Instead further work is being conducted on GBA as part of a wider Central North Sea electrification plan with other firms.
The company said this initiative is “building momentum amongst industry parties, with the GBA ideally located to be an integral part of this initiative”.
BP, Shell, TotalEnergies and Harbour Energy announced in June that they were carrying out a joint study into electrification of their central North Sea assets, as well as West of Shetland.
It’s not clear whether Jersey is being included in the majors’ plans. The OGA said earlier this year that the firm was “in discussion with other operators
about a ‘regional power hub’ – multiple fields, multiple
companies collaborating together for one development”.
In June, the quartet of majors said: “Shell, BP, Harbour Energy and TotalEnergies are collaborating in the early stages of a high-level study project to explore the electrification of some of their assets.
“Cost effective electrification of existing CNS oil and gas offshore assets could significantly reduce CO2 emissions.”
Jersey chairman Marcus Stanton underlined the need for “co-ordinated industry effort to invest” in making the UK a leader in low-carbon energy supply, as November’s COP26 in Glasgow looms.
He said Jersey’s Greater Buchan Area electrification plans have an “important part to play”.
Jersey, which launched a farm-out of the Buchan area earlier in the year, said work is underway to fund the development and its low-carbon plans.
CEO Andrew Benitz said: “Our GBA farm-out process was launched and is ongoing, with active engagement with both industry parties and infrastructure funders, the latter having expressed funding interest particularly with respect to electrification of the development and the potential regional collaboration opportunities that exist. We also launched our Carbon Policy and are targeting ‘Net Zero’ emissions from our GBA Development project at the start of first oil.”
Earlier this year Jersey got a 50% boost to its resources at Buchan to 126million stock tank barrels thanks to a study from Schlumberger.
The announcement was made during Jersey’s interim results for the six months to June 30.
Pre-tax losses stood at £1.9m, up from a £1.1m deficit in the same period in 2020, as the firm builds to a final investment decision and first production.
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