Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/statoil-secures-additional-equity-in-uk-licence.shtmlStatoil Secures Additional Equity in UK Licence
On 1 June 2016, Statoil agreed to acquire JX Nippon’s 45% equity share in, and operatorship of, the UK licence for the Utgard field.
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On 1 June 2016, Statoil agreed to acquire JX Nippon’s 45% equity share in, and operatorship of, the UK licence for the Utgard field.
On conclusion of this transaction Statoil will increase its holding in UK licence P312 to 100%, having previously acquired stakes from First Oil in October 2015 and Talisman Sinopec in December 2015. Statoil is the operator in NCS licence PL046 with a 62% holding.
Utgard, previously known as Alfa Sentral, is a gas and condensate field spanning the UK-Norway median line. It is planned to be developed as a tie-back to existing infrastructure on the Norwegian Continental Shelf (NCS) for Sleipner, which Statoil operates.
A final investment decision for Utgard is planned before end-2016 with production start-up in 2020.
