It follows approval for the change of control approval from the North Sea Transition Authority.
The acquired entities—CalEnergy North Sea and CalEnergy Infrastructure—have been renamed Perenco SNS Ltd. and Perenco UK Infrastructure Ltd., respectively, with a 50% operated participating interest in the Blythe and Elgood licenses.
Original developer Independent Oil and Gas went into receivership following financial problems caused by unexpected production issues with the associated fields.
Jo White, Perenco UK SNS general manager, said the Saturn Banks blocks would join the existing portfolio of SNS fields that export gas to the company’s Bacton terminal on the Norfolk coast in eastern England.
“Our immediate focus will be on continuing safe and efficient operations," White said. "In the medium term, we will look for ways to enhance production and reduce unit operating costs, including by bringing the Blythe H2 well into our LAPS [Lancelot Area Pipeline System] compressor [at Bacton] within the coming year.”
Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.
