Eric Watkins
Senior Correspondent
LOS ANGELES, Jan. 7 -- Fairfield Energy Ltd. and Mitsubishi Corp. will obtain rights to fields in the North Sea's Dunlin cluster from Royal Dutch Shell PLC and ExxonMobil Corp.
The Dunlin cluster is in the UK's northern North Sea in 151 m of water 195 km northeast of Lerwick in the Shetland Islands. The agreement covers Dunlin, Dunlin South West, and subsea tie backs Osprey and Merlin in Quadrant 211 of the northern North Sea.
Fairfield unit Fairfield Betula will acquire 70% of the Dunlin and Dunlin South West fields and Fairfield Fagus will acquire 70% of the Merlin and Osprey fields. Mitsubishi will acquire a 30% interest in all fields.
The transfer will be completed by March, after the partners obtain the UK government's approval and consent from other parties. The acquisition price has yet to be disclosed.
Current total cluster production is in the region of 8,000 boe/d. Mitsubishi and Fairfield aim to produce 30,000-40,000 b/d with additional development.
Contact Eric Watkins at [email protected].
