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

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...