Fairfield Energy acquires North Sea blocks, plans development

Fairfield Energy has acquired UK North Sea block 211/27a in license P184 and block 211/27c in license P474.

Offshore staff

STAINES, UK -- Fairfield Energy has acquired UK North Sea block 211/27a in license P184 and block 211/27c in license P474. The interests contain the former North West Hutton field, which ceased production in 2003. Fairfield plans to redevelop the area and access remaining proven oil volumes. Decommissioning of the existing North West Hutton field facilities has begun and will be completed by the current owners.

The transaction is subject to UK government approvals.

"Ownership of blocks 211/27a and 211/27c together with adjacent block 211/27e will allow us to embark upon a significant development to unlock the proven potential,” says Mark McAllister, CEO of Fairfield. “We have plans in place to appraise and, after the existing Northwest Hutton field facilities have been fully decommissioned by the current owners, move forward with a major subsea development tied back to our operated Dunlin platform."

09/28/2009

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