Statoil Increases Exposure to Norwegian Continental Shelf, Entering UK Licence

Norway’s Statoil acquired First Oil’s 24% equity share in the Alfa Sentral field in British waters for USD 15 million.

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).

“This transaction demonstrates the potential on both the UK and Norwegian side of the Continental Shelf. The acquisition of this Alfa Sentral licence increases the resource base and strengthens our efforts to further develop the Sleipner area towards 2030", Mette Halvorsen Ottøy, senior vice president for the operations south cluster in Development & Production Norway (DPN), commented in a note. 

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