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.

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