Buchan Redevelopment Oil and Gas Field (United Kingdom)

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Buchan Redevelopment Oil and Gas Field is a discovered oil and gas field in United Kingdom.

Project Details

Main Data

Table 1: Field-level project details for Buchan Redevelopment Oil and Gas Field

¹Final Investment Decision
²If a country or region is known to not produce any hydrocarbons in an unconventional method, this production type is assumed to be conventional

Unit name	Status	Operator	Owner	Discovery year	FID1 year	Production start year	Production type2
Buchan Redevelopment	Discovered	Neo Energy	Jersey Oil and Gas (12.5%); Neo Energy (37.5%); HitecVision (50.0%)	1974	2025 (expected)	2026 (expected)	Conventional

Production and Reserves

Table 2: Reserves of Buchan Redevelopment Oil and Gas Field

million bbl = million barrels of oil

Fuel description	Reserves classification	Quantity	Units	Data year	Source
oil	P50 Prospective Resources	120	million bbl	2021	​

Table 3: Production from Buchan Redevelopment Oil and Gas Field

million m³/y = million cubic meters per year
million bbl/y = million barrels of oil per year
million bbl = million barrels of oil

Category	Fuel description	Quantity	Units	Data year	Source
cumulative production	oil	147	million bbl	2021
production design capacity	oil	11.68	million bbl/y	2026
production design capacity	gas	1460	million m³/y	2026

Location

Table 4: Field-level location details for Buchan Redevelopment Oil and Gas Field

Concession/Block	Location	Onshore/Offshore	Coordinates (WGS 84)
20/5a, 20/5e, and 21/1a	Offshore, United Kingdom	Offshore	57.7431, -0.0557 (exact)

The map below shows the exact location of the field:

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Background

Buchan oil field was discovered in 1974 and brought into production by BP in 1981. Production stopped in May 2017 because the floating production vessel (FPV) reached its end life, and the FPV and associated infrastructure were being decommissioned as of March 2020. The original development produced 147.8 MMbbl of oil and 36.5 bcf of gas from 1981 until 2017. In 2019, after conducting a seismic survey, Jersey Oil and Gas (JOG) submitted an application for a redevelopment license, and in July 2019 was awarded a 100% working interest and operatorship of the Buchan oil field.

The development cost is expected to be $1.4 billion USD.

As of 2021, FID was expected to be reached in 2022. Production is expected to start in late 2025 and continue until 2047.

Buchan field covers three license blocks: 20/5a, 20/5e, and 21/1a, and is operated on the P2498 license.

Articles and Resources

Additional Data

To access additional data, including an interactive map of oil and gas extraction sites, a downloadable dataset, and summary data, please visit the Global Oil and Gas Extraction Tracker on the Global Energy Monitor website.