ExxonMobil agrees to North Sea Sleipner area gas sale

Offshore staff

GDÁNSK, PolandLOTOS Exploration and Production Norge has agreed to acquire 15% interests held by ExxonMobil in the Sleipner area of the North Sea for $160 million.

These relate to the Sleipner Øst, Sleipner Vest, Gungne and Loke fields, all operated by Statoil. The combined production that LOTOS is acquiring amounts to 16,000 boe/d. Of this, 70% is natural gas and 30% condensate.

Proven and probable reserves (2P) attributable to LOTOS total 20.8 MMboe.

In addition, the Polish company has agreed to a contingent payment of $25 million for an interest in the Alfa Sentral structure in the UK North Sea, payable when the authorities approve a plan for development and operation involving a tieback to the Sleipner complex.


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