Concedo AS has agreed to acquire from Vår Energi ASA a 20% interest in Bøyla field for $24 million. Concedo will assume full decommissioning liabilities for the acquired field.
Bøyla field is a mature producing field in the North Sea operated by Aker BP (80%). The field started production in 2015 and is developed with a subsea template tied-back to the Alvheim FPSO (OGJ Online, Jan. 19, 2015).
The Boyla license was awarded in the APA 2004 licensing round. The first discovery was made in 2009 via the Marihone prospect, which was confirmed by two appraisal wells the same year.
Vår Energi’s net production from the field was about 1,400 boe/d in this year’s first quarter.
The deal is expected to close in this year’s fourth quarter, subject to customary regulatory approvals.
Concedo is privately held Norwegian oil company focused as a non-operated partner in exploration on the Norwegian Continental Shelf.
