Statoil Secures Additional Stake in Utgard Field UK License

Statoil has agreed to acquire JX Nippon’s 45 percent equity share in, and operatorship of, the UK license for the Utgard field.

Following the transaction Statoil will increase its holding in UK license P312 to 100 percent, having previously acquired stakes from First Oil in October 2015 and Talisman Sinopec in December 2015. Statoil is the operator of Norwegian Continental Shelf license PL046 with a 62 percent 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 for Sleipner, which Statoil operates. A final investment decision for Utgard is planned before end-2016 with production start-up in 2020.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  MEO Australia Seeks Shareholder Approv... (Sep 28)
 -  Karoon Buys PEPC's 35% Stake in 4 Sant... (Sep 28)
 -  China's Wison Completes Test of World'... (Sep 28)
 -  DNV GL Reviews 100 Rigs as part of Saf... (Sep 28)
 -  Farstad Shipping Sells AHTS Lady Sandr... (Sep 27)


Most Popular Articles

From the Career Center
Jobs that may interest you
United States San Antonio: Account Manager
Expertise: Business Development|Sales
Location: San Antonio, TX
 
Global Privacy Manager
Expertise: Risk Management
Location: Houston, TX
 
Legislative & Regulatory Analyst - Upstream & Midstream
Expertise: Legal|Regulatory Compliance
Location: San Ramon, CA
 
search for more jobs

Brent Crude Oil : $48.69/BBL 5.91%
Light Crude Oil : $47.05/BBL 5.32%
Natural Gas : $2.952/MMBtu 1.60%
Updated in last 24 hours