N. SEA ASSETS TO BE TRADED

Elf U.K. plc and Ultramar Exploration Ltd. have agreed to an exchange of certain assets in the U.K. North Sea. Elf will assign its 54.5% interest in Block 49/5a, which contains part of the Ultramar operated Markham gas field, in exchange for Ultramar's 21.25% interest in Block 29/5b, which holds the Franklin gas/condensate discovery. Elf also will pay Ultramar 45 million ($72.9 million). Markham is scheduled to land first gas in Holland in 1992. Franklin has estimated reserves of 2 tcf of

In order to access this content, you must be logged-in and have an active subscription to the OGJ Premium Archive

Subscribe

More in Home