Statoil becomes operator of Utgard field’s UK part. Plans FID for 2016

Statoil becomes operator of Utgard field. Plans FID for 2016

Norway’s Statoil has agreed to acquire JX Nippon’s 45% equity share in, and operatorship of, the UK licence for the Utgard field.

On conclusion of this transaction Statoil will increase its holding in UK licence P312 to 100%, having previously acquired stakes from First Oil in October 2015 and Talisman Sinopec in December 2015. Statoil is the operator in NCS licence PL046 with a 62% holding.

Utgard, previously known as Alfa Sentral, is a gas and condensate field spanning the UK-Norway median line. It is planned to be developed as a tie-back to existing infrastructure on the Norwegian Continental Shelf (NCS) for Sleipner, which Statoil operates.

A final investment decision for Utgard is planned before end-2016 with production start-up in 2020.

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