Dutch power company Essent buys into North Sea field

Doris Leblond
OGJ Correspondent

PARIS, Dec. 17 -- GDF Suez E&P Nederland BV and Lundin Netherlands BV have finalized the sale of their production shares in the E17-A gas field in the Dutch North Sea to Netherlands' largest power company Essent. Offshore fields account for more than 50% of Dutch gas production.

Operator GDF Suez acquired the field in 2003 from NAM, which discovered it in 1996. The field will come into production at yearend 2009, producing an expected total of 2.5 billion cu m of gas.

Essent will acquire GDF Suez's 34.07% production share and Lundin's 1.2% share.

Other shareholders in the gas field are Total EP Nederland, with 14.1%, and Holland's Energie Beheer, 50%.

"The deal between GDF Suez, Lundin, and Essent marks a new collaboration with an important operator and the first direct gas supplies contract with offshore producers," said Essent Trading Chief Executive Officer Paymon Aliabadi.

Related Articles

Millennium Pipeline appoints president

03/20/2014 Millennium Pipeline Co. LLC has selected Joseph Shields as its president. He succeeds Rocco D’Alessandro, who held the position beginning in May 20...

ONGC Videsh names exploration director

03/19/2014 ONGC Videsh Ltd. (OVL), the overseas arm of Oil & Natural Gas Corp. Ltd., has named Anil Bhandari as exploration director. In his role, Bhandar...

OGJ Newsletter

03/17/2014

International news for oil and gas professionals

Industry groups react to Camp's federal tax reform proposal

03/10/2014 US House Ways and Means Committee Chairman David L. Camp (R-Mich.) released a federal tax reform proposal that quickly drew fire from oil and gas a...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected