WINDSOR, UK – Centrica has agreed to pay Total $388 million for various non-operated production interests in the UK central North Sea.
These include seven producing fields in the Greater Armada area, operated by BG; the Alba field operated by Chevron; and the Mungo and Monan cluster operated by BP.
Centrica will gain 22 MMboe of 2P reserves (36% gas, 64% oil), increasing its overall reserves by around 5%. The oil and gas is mostly un-contracted and linked directly to the UK market.
The table below sets out the details in full:
|Producing assets||Equity acquired||Centrica’s equity on completion||Operator|
|- Maria||28.9600%||64.0000%||BG Group|
|- Seymour||25.0000%||43.0000%||BG Group|
|- Armada Unit||12.5300%||23.5800%||BG Group|
|- Everest||0.8688%||0.8688%||BG Group|
|Mungo and Monan||12.4342%||12.4342%||BP
|ETAP Central Processing Facility (CPF)||3.3760%||3.3760%||BP
|Central Area Transmission System (CATS)||0.5684%||0.5684%||BP