Buchan Redevelopment is a conventional oil development located in shallow water in the UK and is operated by Neo Energy (Zex). According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, lies in block 21/1a ALL and 20/5a ALL, with water depth of around 705 feet. Buy the profile here.
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The project is currently in approval stage and is expected to start commercial production in 2027. Final investment decision (FID) of the project will be approved in 2025. The development cost is expected to be $900 m. The Buchan Redevelopment conventional oil development will involve the drilling of approximately seven wells and includes FPSO, subsea manifold, and subsea trees.
Field participation details
The field is owned by HitecVision, Jersey Oil and Gas and Serica Energy.
Production from Buchan Redevelopment
Production from the Buchan Redevelopment conventional oil development project is expected to begin in 2027 and is forecast to peak in 2028, Based on economic assumptions, the production will continue until the field reaches its economic limit in 2058.
Contractors involved in the Buchan Redevelopment conventional oil field
Some of the key contractors involved in the Buchan Redevelopment project as follows.
Design/FEED Engineering: Apollo Engineering Consultants
Other Contractors: Schlumberger
About Neo Energy (Zex)
Neo Energy (Zex) Ltd, a subsidiary of Neo Energy Upstream UK Ltd, focuses on exploration, appraisal, development and production of hydrocarbons. Zennor Exploration is headquartered in Guildford, Surrey, the UK.
For more details on the Buchan Redevelopment Conventional Oil Field, buy the profile here.
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This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
