Statoil completes Alfa Sentral share buy

Statoil and First Oil have completed their previously announced transaction, whereby Statoil acquired First Oil’s share in the UK licence for the Alfa Sentral field.

Namely, in October 2015, the Norwegian oil and gas giant Statoil acquired 24% of First Oil’s share in UK Continental Shelf (UKCS) licence P312 which, with licence PL046 on the NCS, comprises the Alfa Sentral field, for $15 million.

Statoil is the operator in PL046 with a 62% holding.

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

 

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