Verus to join Chevron in North Sea Alba field
Statoil has agreed to sell its 17% stake in the Chevron-operated Alba oil field in the UK central North Sea to Verus Petroleum.
To date the field has produced around 420 MMbbl: Statoil, which had been a partner since 1995, received net production last year of around 2,300 b/d.
Statoil will retain its share of the decommissioning liabilities for the existing field infrastructure while Verus will assume liabilities for any new infrastructure.
This year, Statoil will be involved in a three-well exploration campaign elsewhere on the UK shelf.