By the OGJ Online Staff
LONDON, Feb. 21�Venture Production Co. Ltd. said Wednesday its production would rise by 14,000 b/d following the signing of an asset acquisition deal with TotalFinaElf Exploration PLC involving eight fields in the central and southern North Sea.
Under the sale, the value of which was not disclosed, Venture will get an interest in the producing Tiffany, Toni, Thelma, Southeast Thelma, and Mallard oil fields, and Audrey, Ann, and Alison gas fields, along with a number of undeveloped discoveries on the UK Continental Shelf. The assets are located on Blocks 16/13, 16/17, 21/19, 49/6, and 49/11.
Venture said its production from interests in various North Sea assets was 10,000 b/d.
"The acquisition of the package of assets from TotalFinaElf significantly increases Venture's position in the North Sea," said company Chief Executive Bruce Dingwall.
He said Venture expected completion of the sale in the second quarter.
