The initial core development will comprise remaining reserves from the Buchan oil field, the J2 West and J2 East structures, and the Verbier West and Verbier East structures, targeting combined 2C resources of 172 MMboe.
Recent studies have also identified a potentially material new prospect in Wengen. Verbier Deep, Wengen, Cortina NE (J64), and Zermatt are all drill-ready with a combined prospective resource of more than 200 MMboe.
Following an assessment of the optimum drilling sequence for the various prospects, and subject to funding, Wengen and Cortina NE will be the first to be tested, in 2Q 2023. In the event of well successes, both could be tied back economically to the GBA complex and could extend the project’s plateau production period into the mid- to late-2030s.
Last year JOG’s team concluded that a fixed production platform located at the Buchan field was the optimum solution based on environmental and safety issues, technical feasibility, capital and operating costs, project economics, and other factors.
Phase 1 of the three-phase project will deliver a single integrated wellhead, production, utilities and quarters platform, normally manned, at Buchan. The Buchan wells will be drilled by a heavy-duty jackup located over a 12-slot well bay.
Phase 1 facilities will also be designed to accommodate Phase 2 (the subsea tieback of J2 West, J2 East and Verbier East to the platform), and Phase 3, development of Verbier West via a connection to the Phase 2 subsea infrastructure.
Production will be supported by injection of produced water and seawater and enhanced by electric submersible pumps, with an anticipated field life of 31 years.
The Buchan location is close to existing export infrastructure for both oil and gas. Selection of the final oil and gas export routes will be factored into the front-end engineering and design, currently expected to take place later this year.
JOG expects to take a final investment decision in summer 2022, followed by first oil three years later in 3Q 2025.