Centrica lifts stake in North Sea fields

Offshore staff

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
Greater Armada      
- 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
Alba 12.6500% 12.6500% Chevron
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

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