Jersey Oil and Gas (GB:JOG) has released an update.
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Jersey Oil & Gas (JOG) has provided an update on the Buchan redevelopment project, indicating progress in engineering work and offshore surveys, with major contract awards expected in 2025 and first production aimed for late 2027. The company awaits fiscal clarity from the upcoming UK General Election to finalize the Field Development Plan. JOG maintains a strong financial position, fully funded for the project with a £13 million cash reserve and a £3 million annual base spend.
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