Following the UK’s decision to retain its current fiscal and regulatory regime regarding Britain’s oil and gas policy, Aberdeen-based full-cycle energy business NEO NEXT Energy and its partners, Serica Energy and Jersey Oil & Gas (JOG), are expected to gather together to determine their next steps for a proposed oil redevelopment project in the North Sea on the UK Continental Shelf (UKCS).

After Dana Petroleum terminated an agreement related to the proposed sale of the FPSO Western Isles , which NEO hand-picked for the Buchan Horst (Buchan) development project, the firm’s partner, Jersey Oil & Gas, explained that work was underway to prepare the necessary addendum to the project’s environmental impact assessment in response to the revised guidance regarding the inclusion of Scope 3 emissions.