Statoil buys stake in Alfa Sentral license

Statoil ASA has purchased a 24% interest in the license containing the UK section of transborder Alfa Sentral natural gas and condensate field in the North Sea and expects unitization negotiations to begin soon.

Seller of the 24% stake in license P312 was First Oil Expro Ltd., Aberdeen. Statoil paid $15 million. Other interests, according to the UK Department of Energy and Climate Change, are JX Nippon Exploration & Production (UK) Ltd., operator, 45%, and Talisman Sinopec North Sea Ltd., 31%.

Statoil envisions development via a 21-km tieback to facilities on Sleipner field, which it operates, in Norwegian waters. It estimates reserves at 60 million boe.

The company plans a final investment decision late next year toward a production start in 2020.