Statoil secures additional equity in UK licence for Utgard field
Published by Louise Mulhall,
Editorial Assistant
Oilfield Technology,
Following the close of this transaction Statoil's holding in UK license P312 will be increased 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.
Adapted from a press release by Louise Mulhall
Read the article online at: https://www.oilfieldtechnology.com/exploration/03062016/statoil-secures-additional-equity-in-uk-licence-for-utgard-field/
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