Repsol buys into Mikkel offshore gas field as Total exits

Spanish oil company Repsol will acquire French oil major Total’s 7.65% stake in Norway’s Mikkel gas and condensate field, offshore Norway. This will boost the company’s production in Norway to 32,000 barrels of oil equivalent a day.

Mikkel field map; Image source Equinor

Repsol has said that the Mikkel field currently produces around 50,000 barrels of oil equivalent a day, and Total’s stake acquisition will see Repsol’s output in the Scandinavian country rise 14%, to already mentioned 32,000 barrels of oil equivalent per day. Repsol will now own interest in 30 production licenses.

The Mikkel field is operated by Equinor with a 43.97% share, ExxonMobil with 33,48%, recently established Vår Energi AS, with 14.9% and Repsol Norge AS with the remaining 7.65%. With this sale, of undisclosed value, Total will exit the field.

The Mikkel field is a gas and condensate reservoir located 35 kilometers south of the Midgard deposit on Equinor’s Åsgard field in the Norwegian Sea. In 2017, it achieved an average production of 47,075 barrels of oil equivalent a day.

According to info on Equinor’s website, Mikkel has been producing gas and condensate (light oil) since August 1, 2003.

The field lies 35 kilometers south of the Midgard deposit on Equinor’s Åsgard field in the Norwegian Sea. It has been developed with a subsea production facility tied back to the seabed installations on Midgard, which in turn form part of the Åsgard development.

The Mikkel system comprises two subsea templates with a total of three production wells. Mikkel was the first in a series of fields in this part of the Norwegian Sea that has been possible to develop because of the infrastructure established with the Åsgard development.

“This acquisition reaffirms Repsol’s commitment to Norway, a key country for the company,” Repsol said.

Repsol has further highlighted it reached an agreement with Total in early 2018 to acquire a 7.65% stake in the Visund field, and is also moving forward on the Yme field development, that is expected to start producing in the second quarter of 2020.

Repsol operates Blane, Gyda, Rev, Yme and Varg fields, and is also a partner in the Brage, Gudrun, Visund, Huldra, Veslefrikk, and Tambar East fields.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply