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:
Centrica’s equity on completion
- Armada Unit
Mungo and Monan
ETAP Central Processing Facility (CPF)
Central Area Transmission System (CATS)