Statoil Secures Additional Equity in UK Licence for Utgard Field

Oil and Gas - Jun 3, 2016

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.

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A final investment decision for Utgard is planned before end-2016 with production start-up in 2020.

Source : Statoil

Published on Global Energy World: Jun 3, 2016


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