Jersey Oil & Gas has received approval from the North Sea Transition Authority to extend the second term of its P2170 Verbier licence by six months to 28 February 2027. The extension aligns the licence with the company's P2498 Buchan Horst licence, both located in the Greater Buchan Area, supporting an integrated Area Plan. The P2170 licence covers blocks 20/5b and 21/1d, operated by NEO NEXT+ ENERGY with a 50% stake, while Jersey Oil & Gas holds 20% and Serica Energy owns 30%. The joint venture partners are evaluating alternative production solutions after earlier plans to use the Western Isles FPSO were reconsidered due to market conditions, and a similar extension request for the Buchan licence will be submitted later this year.
Serica Energy PLCLicence extension supports integrated plan but alternative production solutions still under evaluation.
