STAVANGER, Norway — Wintershall Dea has agreed to sell its operated stake in the producing Brage Field and its interest in the Ivar Aasen development, both in the Norwegian North Sea, to OKEA.
Wintershall Dea COO Dawn Summers said the company plans to focus on gas production in Norway, with the Dvalin and Njord projects both set to come onstream by the end of the year.
The company will retain responsibility for 80% of OKEA’s share of total decommissioning costs related to the Brage Unit.
The transaction, which also includes 6% of the Nova Field development, will provide net 2P reserves of 13.2 MMboe and incremental production this year of 5,000 to 6,000 boe/d, rising to at least 7,000 boe/d in 2023-24, according to OKEA.
There is further near-term production potential from numerous nearby drilling prospects.
Subject to approval by the authorities, the deal should complete in fourth-quarter 2022.
Brage, 123 km west of Bergen in 140 m water depth, started production in 1993 via an integrated production, drilling and accommodation platform.
Its oil is transported by pipeline to the Oseberg Field center and onward through the Oseberg Transport System pipeline to the Sture terminal. A gas pipeline is tied back to the Statpipe trunkline system.
Other partners in Brage are Lime Petroleum, DNO Norge, Vår Energi and M Vest Energy.