Centrica closes Norwegian shelf acquisitions

By OGJ editors

Centrica has closed separate acquisitions from Statoil and ConocoPhillips of major Norwegian Continental Shelf oil and gas interests.

It paid Statoil $1.525 billion and might make a further payment of as much as $100 million depending on future production of Kvitebjorn natural gas field.

The deal cuts Statoil’s interests in Kvitebjorn to 39.55% from 58.55%, in Heimdal gas field to 29.553% from 39.553%, and in Valemon gas field to 53.775% from 66.775%. Statoil remains operator of the fields.

In other areas, Centrica acquires Statoil’s only interests. They are: ​Skirne-Byggve ​10%, ​Fulla ​50%, ​Frigg-Gamma-Delta 40%, Vale ​28.853%, and Rind 37.87%.

Centrica said the Statoil acquisition involves proved plus probable reserves of 117 million boe and production of 34,000 boe/d and includes “attractive development potential.”

It acquired ConocoPhillips’s nonoperated interests in Statfjord oil and gas field and satellites for $223 million, including $103 million in historic tax allowances (OGJ Online, Jan. 31, 2012). Centrica’s Statford interest increases to 34.3%. The company estimates proved and probable reserves associated with the deal at 36 million boe.

Related Articles

OMV to ramp up drilling in lower Austria

04/08/2014 OMV AG reported it will drill as many as 24 wells this year along with 20 wells in 2015 and 2016, respectively, in the Weinviertel region of lower ...

Speakers debate states’ oil, gas role at GMU conference

04/08/2014 States are better qualified than federal and local governments to regulate hydraulic fracturing and other unconventional oil and gas activities, tw...

Laclede Group to acquire Alagasco for $1.6 billion

04/08/2014 Laclede Group Inc., St. Louis, has entered into an agreement with Energen Corp. to acquire subsidiary Alabama Gas Corp. (Alagasco) for $1.6 billion...

MARKET WATCH: Oil futures drop on expected resumption in Libyan supply

04/08/2014 Crude oil futures prices fell on New York and London markets Apr. 7 on expectations that two eastern Libyan ports that export oil would be reopened...

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