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Jersey Oil & Gas hires Rockflow and Petrofac as it advances Buchan project

The contractors will support the AIM-quoted firm as it progresses the concept selection phases of the field development project.

Jersey Oil & Gas hires Rockflow and Petrofac as it advances Buchan project

Jersey Oil & Gas Plc (LON:JOG) has hired Rockflow Resources and Petrofac Facilities Management for services on the Greater Buchan Area development project.

The company, in a statement on Monday, noted that Rockflow will provide subsurface evaluation support while Petrofac will provide facilities and well support.

"I am delighted to announce the award of contracts to both Rockflow and Petrofac,” said Andrew Benitz, Jersey chief executive.

READ: Jersey results boast strong cash position and transformative Buchan acquisition

“We look forward to building on our valued relationship with both companies as we progress through the critical concept selection phases of the Greater Buchan Area development project".

Jersey noted that it has a close working relationship with both Rockflow and Petrofac, and, both were instrumental in supporting JOG in its successful application for the acreage via the UK’s offshore licensing round.

The company’s recent financial results statement described Buchan as a very material and scalable project.

In September’s report, Benitz added: “We are dealing with well-known, good quality, light oil fields and discoveries in a relatively benign and shallow part of the Central North Sea, which are located within UK waters, near good surrounding infrastructure for export and represent a potentially valuable energy resource for both JOG and the UK.”

Quick facts: Jersey Oil and Gas PLC

Price: 132.5 GBX

Market: LSE
Market Cap: £28.92 m

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