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Statoil acquires First Oil’s equity for Alfa Sentral gas field in North Sea

Statoil acquired First Oil's 24% share in the UK licence for the Alfa Sentral gas and condensate field in the central North Sea, in a deal worth $15m.

The 60Mmboe Alfa Sentral field located in blocks 15/8 and 16/18a is planned to be developed as a tie-back to the existing infrastructure for Sleipner on the Norwegian Continental Shelf (NCS) operated by Statoil.

  • Sleipner is the second largest gas machine in the North Sea.
  • According to the oil major, Alfa Sentral will increase the Sleipner facilities usage.
  • Statoil development and production Norway (DPN) operations south cluster senior vice-president Mette Halvorsen Ottøy said: "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."
  • The deal is expected to close by the year-end, with Statoil acquiring a 24% interest in UK Continental Shelf (UKCS) licence P312.
  • "This transaction demonstrates the potential on both the UK and Norwegian side of the Continental Shelf."
  • P312 and licence PL046 on the NCS comprise the Alfa Sentral field.
  • PL046 is operated by Statoil with a 62% interest.
  • As a result of the deal, Statoil has deepened its presence on the NCS and the UKCS.
  • Concept selection for the project was carried out in September, with negotiations to unitise the field expected to begin soon.
  • Statoil plans a final investment decision for late-2016 with production start-up set to take place in 2020.
  • The field is planned developed with a four slots subsea template, and a 21km pipeline connecting the wells to the Sleipner T platform.

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