Transaction clears way for North Sea Utgard development
Statoil has completed its acquisition of JX Nippon’s 45% operated share of UK North Sea license P312, giving the company outright control of the concession.
It contains theUtgard field which extends across the median line into Norwegian license PL046.
Statoil expects to take a decision on a tieback of Utgard to the Sleipner complex by year-end, allowing production to start in 2020.
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