Statoil acquires additional equity in UK license for Utgard field
STAVANGER, Norway -- Statoil has agreed to acquire JX Nippon’s 45% equity share in, and operatorship of, the UK license for Utgard field.
On conclusion of this transaction, Statoil will increase its holding in UK license 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 license 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 year-end 2016 with production start-up in 2020.
