總部位于英國的澤西島石油天然氣公司(JOG)已同意將英國大陸架(UKCS)資產(chǎn)的部分股份轉(zhuǎn)讓給HitecVision支持的NEO Energy。

大布坎地區(qū)概念;來源：澤西島石油天然氣公司

早在2021年3月，澤西島就透露了其首選的大布坎地區(qū)開發(fā)概念，第一階段是位于巴坎油田的單一集成井口、生產(chǎn)、公用設(shè)施和宿舍(WPUQ)平臺(tái)。當(dāng)時(shí)，該公司透露，在預(yù)計(jì)于2022年做出最終投資決定之前，將啟動(dòng)一個(gè)外判程序。幾天后，澤西島證實(shí)，計(jì)劃中的外包程序已正式啟動(dòng)。該公司正在于2023年3月底敲定一項(xiàng)外包協(xié)議。

澤西島石油天然氣公司于2023年4月6日周四宣布將Greater Buchan地區(qū)(GBA)許可證的50%權(quán)益租給NEO Energy，該交易解釋稱，該交易將帶來實(shí)質(zhì)性價(jià)值，包括現(xiàn)金支付、通過油田開發(fā)計(jì)劃(FDP)批準(zhǔn)提供資金，以及為first Oil保留的50%權(quán)益提供至少12.5%的開發(fā)支出。

據(jù)這家英國公司稱，此次外判將為最終確定GBA開發(fā)解決方案和將超過1億桶石油當(dāng)量的資源貨幣化開辟道路，同時(shí)為開發(fā)制裁和第一批石油提供明確的途徑，并有機(jī)會(huì)通過額外的外判交易創(chuàng)造進(jìn)一步的價(jià)值。這兩個(gè)參與者致力于評(píng)估通過使用現(xiàn)有基礎(chǔ)設(shè)施和潛在的低碳電氣化選項(xiàng)，使GBA發(fā)展成為其低碳證書的旗艦地位的選項(xiàng)。

澤西石油天然氣公司首席執(zhí)行官Andrew Benitz，評(píng)論：“我們很高興宣布與NEO Energy的這筆交易，NEO Energy是一家資金充足的行業(yè)重量級(jí)公司，也是英國CS的第五大生產(chǎn)商。此次收購標(biāo)志著JOG的一個(gè)重大價(jià)值創(chuàng)造時(shí)刻，從運(yùn)營和資金角度來看，這是GBA發(fā)展計(jì)劃的一個(gè)重要風(fēng)險(xiǎn)降低，并為業(yè)務(wù)的長(zhǎng)期價(jià)值增長(zhǎng)提供了跳板。”

作為達(dá)成最終協(xié)議將GBA許可證中50%的工作權(quán)益和運(yùn)營權(quán)剝離給NEO的交換，澤西島將獲得北海過渡管理局(NSTA)批準(zhǔn)的FDP中包含的布坎油田開發(fā)成本的12.5%結(jié)轉(zhuǎn)，相當(dāng)于1.25的結(jié)轉(zhuǎn)率;以及澤西島在估計(jì)2500萬美元的成本中所占的50%的份額，以使布坎油田獲得FDP的批準(zhǔn)。

此外，交易完成后，澤西島將獲得200萬美元的現(xiàn)金支付;GBA開發(fā)解決方案最終確定后支付940萬美元現(xiàn)金;NSTA批準(zhǔn)Buchan FDP后支付1250萬美元現(xiàn)金;以及在NSTA就J2和Verbier石油發(fā)現(xiàn)批準(zhǔn)每次FDP時(shí)支付500萬美元現(xiàn)金。此外，完成交易的主要先決條件是獲得NSTA對(duì)交易的批準(zhǔn)以及澤西島兩個(gè)GBA許可證的相關(guān)延期。

完成后，許可證的運(yùn)營權(quán)將移交給近地天體能源公司。因此，澤西島將與近地天體能源公司合作，選擇首選的開發(fā)解決方案，并確認(rèn)了GBA的一系列有吸引力的選項(xiàng)，這些選項(xiàng)利用了現(xiàn)有的北?；A(chǔ)設(shè)施。這家英國公司打算將GBA許可證中的額外股權(quán)外租，以在FDP批準(zhǔn)后最終保留該開發(fā)項(xiàng)目20-25%的附帶權(quán)益。

根據(jù)這一點(diǎn)，NEO Energy可以選擇將其在Buchan許可證中50%的權(quán)益再增加37.5%，以換取進(jìn)一步的現(xiàn)金支付，如果澤西島在開發(fā)中的任何股權(quán)在提交FDP之前仍然沒有資金，此類付款是由于公司在GBA開發(fā)解決方案和Buchan FDP完工后支付的未來現(xiàn)金的按比例余額。

根據(jù)澤西島在2021年披露的計(jì)劃，第1階段的設(shè)施預(yù)計(jì)將設(shè)計(jì)為適應(yīng)第2階段和第3階段的開發(fā)。雖然第二階段預(yù)計(jì)將通過海底回接到GBA平臺(tái)開發(fā)J2 West、J2 East和Verbier East發(fā)現(xiàn)，但第三階段計(jì)劃通過連接到第二階段海底基礎(chǔ)設(shè)施開發(fā)Verbier West發(fā)現(xiàn)。油田壽命預(yù)計(jì)為31年。這些設(shè)施將由岸上供電。

此外，這家英國公司強(qiáng)調(diào)，其正在進(jìn)行的和計(jì)劃中的工作計(jì)劃仍然資金充足，截至2022年12月31日，現(xiàn)金余額約為650萬英鎊。該公司打算在交易完成后使用預(yù)計(jì)從NEO獲得的現(xiàn)金支付，以實(shí)現(xiàn)其增長(zhǎng)戰(zhàn)略并提供額外的營運(yùn)資金。

據(jù)估計(jì)，GBA總面積包含1.72億桶油當(dāng)量(MMboe)的已發(fā)現(xiàn)P50可采資源，以及靠近該公司計(jì)劃的Buchan平臺(tái)的約1.68億桶油當(dāng)量的潛在勘探上升潛力。

Benitz總結(jié)道:“我們期待著與NEO Energy合作，為GBA選擇最佳的開發(fā)解決方案，并將項(xiàng)目通過審批并投入未來的生產(chǎn)。”

澤西島位于北海中部的心臟地帶，在GBA項(xiàng)目中的股權(quán)包括對(duì)包含Buchan油田和J2石油發(fā)現(xiàn)的區(qū)塊的運(yùn)營權(quán)和100%的開采權(quán)益，以及對(duì)包含Verbier石油發(fā)現(xiàn)和其他勘探前景的P2170許可證區(qū)塊20/5b和21/1d的100%開采權(quán)益。

原文如下：

UK-headquartered Jersey Oil & Gas (JOG) has agreed to farm out a partial stake in an asset on the UK Continental Shelf (UKCS) to the HitecVision-backed NEO Energy.

Greater Buchan Area concept; Source: Jersey Oil & Gas

Back in March 2021, Jersey revealed its preferred development concept for the Greater Buchan Area development with Phase 1 being a single integrated wellhead, production, utilities, and quarters (WPUQ) platform located at the Buchan field. At the time, the firm disclosed that it would launch a farm-out process ahead of the final investment decision expected in 2022. A few days later, Jersey confirmed that the planned farm-out process was formally launched. The firm was in the process of finalising a farm-out deal at the end of March 2023.

While announcing the farm-out of a 50 per cent interest in the Greater Buchan Area (GBA) licences with NEO Energy on Thursday, 6 April 2023, Jersey Oil & Gas explained that the deal would deliver material value, including cash payments, funding through to field development plan (FDP) approval and a minimum 12.5 per cent development expenditure carry to first oil for the 50 per cent interest retained by the company.

According to the UK firm, this farm-out will unlock the route to finalising the GBA development solution and monetisation of resources in excess of 100 million barrels of oil equivalent while providing a clear path to development sanction and first oil, with the opportunity to create further value through additional farm-out transactions. The two players are committed to evaluating options to give the GBA development flagship status for its low-carbon credentials through the use of existing infrastructure and potential low-carbon electrification options.

Andrew Benitz, CEO of Jersey Oil & Gas, commented: “We are delighted to announce this transaction with NEO Energy, a well-funded industry heavyweight and the fifth largest producer in the UKCS. The farm-out marks a major value creation moment for JOG, a significant de-risking of the GBA development programme, from both an operational and funding perspective, and provides the springboard from which to grow the long-term value of the business.”

In exchange for entering into definitive agreements to divest a 50 per cent working interest and operatorship in the GBA licences to NEO, Jersey will receive a 12.5 per cent carry of the Buchan field development costs included in the FDP approved by the North Sea Transition Authority (NSTA), equivalent to a 1.25 carry ratio; along with a carry for Jersey’s 50 per cent share of the estimated $25 million cost to take the Buchan field through to FDP approval.

In addition, Jersey will get a $2 million cash payment on completion of the transaction; a $9.4 million cash payment upon finalisation of the GBA development solution; a $12.5 million cash payment on approval of the Buchan FDP by the NSTA; and a $5 million cash payment on each FDP approval by the NSTA in respect of the J2 and Verbier oil discoveries. Furthermore, the primary conditions precedent to completing the transaction are receipt of the approvals from the NSTA for the transaction and the associated extension of Jersey’s two GBA licences.

Upon completion, operatorship of the licences will transfer to NEO Energy. Therefore, Jersey will be working in partnership with NEO Energy to select the preferred development solution, having confirmed a short list of attractive options for the GBA, which utilise existing North Sea infrastructure. The UK player intends to farm out additional equity in the GBA licences to ultimately retain a 20-25 per cent carried interest in the development following FDP approval.

In line with this, NEO Energy has an option to increase its 50 per cent interest in the Buchan licence by up to an additional 37.5 per cent in exchange for a further cash payment should any of Jersey’s equity share in the development remain unfunded ahead of FDP submission, with such payment being the pro-rated balance of future cash payments due to the firm post completion in relation to the GBA development solution and Buchan FDP.

“The unstable fiscal conditions resulting from the introduction and revision of the Energy Profits Levy during 2022 have been challenging. As the joint venture moves forward towards first oil, which is targeted for 2026, it will be mindful of the future fiscal attractiveness of the UK,” explained Jersey.

Moreover, the UK firm highlights that it remains well funded for its ongoing and planned work programmes, with a cash balance of approximately £6.5 million as of 31 December 2022. The company intends to use the cash payments anticipated to be received from NEO, following the completion of the transaction, to pursue its growth strategy and provide additional working capital.

The total GBA acreage is estimated to contain 172 million barrels of oil equivalent (MMboe) of discovered P50 recoverable resources net in addition to the significant exploration upside potential of approximately 168 MMboe of prospective resources close to the firm’s planned Buchan platform.

“We are looking forward to working collaboratively with NEO Energy to select the optimal development solution for the GBA and taking the project through to sanction and on into future production,” concluded Benitz.

Located in the heart of the Central North Sea, Jersey’s stake in the GBA project includes operatorship and 100 per cent working interests in blocks that contain the Buchan oil field and J2 oil discovery and a 100 per cent working interest in the P2170 Licence Blocks 20/5b & 21/1d, that contain the Verbier oil discovery and other exploration prospects.

Based on Jersey’s plans disclosed in 2021, Phase 1 facilities are expected to be designed to accommodate Phase 2 and Phase 3 of the development. While Phase 2 is expected to develop the J2 West, J2 East, and Verbier East discoveries via a subsea tie-back to the GBA platform, Phase 3 is planned to develop the Verbier West discovery via connection to the Phase 2 subsea infrastructure. The field life is anticipated to be 31 years. The facilities will be powered from shore.