Noble deal gives Hansa springboard for gas growth in North Sea

Offshore staff

LONDON – Hansa Hydrocarbons has agreed to acquire a UK subsidiary of Noble Energy Capital and its interests in the UK offshore Malory, Guinevere, and Lancelot gas fields.

These are mostly in blocks 48/12d and 48/17b in the southern North Sea, 60 km (37 mi) north of the Norfolk coast of eastern England.

Mobil started production from Lancelot and Guinevere in 1993 with Malory following in 1998. All three fields are part of the Lancelot Area Pipeline System (LAPS) catchment area, with production heading through a dedicated pipeline and onshore compression facility to the Perenco-operated gas processing facilities in Bacton. Their combined output last year was 21 MMcf/d (594,654 cm/d).

Hansa will acquire a 24% interest in Malory, 25% in Guinevere, 2% in the Lancelot field, and associated pipeline and compression facilities. All remaining equity is held by Perenco.

John Martin, Hansa Hydrocarbon’s CEO, said: “Malory is the key asset which continues to outperform expectations and underwrites the longevity of LAPS.

“Furthermore, through our in-house studies of the neighboring Juliet and Thoresby field areas, we have developed an excellent understanding of the regional geology which gives us confidence in pursuing subsurface growth opportunities in the area. Entry into the LAPS assets serves as an important platform from which to pursue these opportunities.”

8/12/2013

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