Bayerngas backs into Babbage in North Sea

Bayerngas UK has agreed to acquire Centrica Resources’ 13% interest in UK offshore license P456, which contains the Babbage gas field.

Offshore staff

OSLO, Norway – Bayerngas UK has agreed to acquire Centrica Resources’ 13% interest in UK offshore license P456, which contains the Babbage gas field.

Babbage, in block 42/2a in the southern North Sea, came onstream in 2010 and currently produces from three wells. A second phase of drilling is nearing completion with two more wells set to increase production before the end of this year.

Subject to approvals, the partners in the license will be E.ON 47% (operator); Dana Petroleum 40%; and Bayerngas 13%.

Bayerngas UK Managing Director Gerry Harrison said: “Although relatively small, it complements our existing UK production atClipper South and our major development project, Cygnus. It also allows us to join strong and experienced partners to evaluate further potential in the license.

“Together with our existing exploration portfolio, which we will start to test with our first exploration well early next year, we are building a solid UK business.”

9/10/2013

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