Statoil enters UK license for Alfa Sentral project

Statoil has acquired First Oil’s 24% equity share in the UK license for the Alfa Sentral field for US$15 million.

Alfa Sentral is a 60 MMboe gas and condensate field planned to be developed as a tieback to the existing infrastructure for Sleipner on the Norwegian Continental Shelf (NCS), which Statoil operates. Alfa Sentral will, therefore, increase the utilization of the Sleipner facilities.

Through this transaction, Statoil has taken a 24% interest in UK Continental Shelf (UKCS) license P312, which, with license PL046 on the NCS, comprises the Alfa Sentral field. Statoil is the operator in PL046 with a 62% holding.

The transaction is expected to close by the end of 2015.

Concept selection for the Alfa Sentral project was passed in September. Negotiations to unitize the field will begin shortly. A final investment decision is planned for late 2016, with production startup in 2020.

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


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...