UK company Jersey Oil & Gas has a road map that will lead to a final investment decision next year for the Greater Buchan offshore oil project, which it considers the third largest undeveloped field in the UK North Sea.

The Greater Buchan project is a redevelopment of a field that was prematurely shut down in 2017 following a production facility failure.

Phase one of the redevelopment has a potential resource of more than 100 million barrels of liquids on a best estimate basis.