Offshore staff
WINDSOR, UK – Centrica has agreed to pay Total $388 million for various non-operated production interests in the UK central North Sea.
These include seven producing fields in the Greater Armada area, operated by BG; the Alba field operated by Chevron; and the Mungo and Monan cluster operated by BP.
Centrica will gain 22 MMboe of 2P reserves (36% gas, 64% oil), increasing its overall reserves by around 5%. The oil and gas is mostly un-contracted and linked directly to the UK market.
The table below sets out the details in full:
Producing assets | Equity acquired | Centrica’s equity on completion | Operator |
Greater Armada | |||
- Maria | 28.9600% | 64.0000% | BG Group |
- Seymour | 25.0000% | 43.0000% | BG Group |
- Armada Unit | 12.5300% | 23.5800% | BG Group |
- Everest | 0.8688% | 0.8688% | BG Group |
Alba | 12.6500% | 12.6500% | Chevron |
Mungo and Monan | 12.4342% | 12.4342% | BP |
Infrastructure | |||
ETAP Central Processing Facility (CPF) | 3.3760% | 3.3760% | BP |
Central Area Transmission System (CATS) | 0.5684% | 0.5684% | B |
2/23/2012
