Date
E.g., 19/10/2017
E.g., 19/10/2017
Company News

Centrica acquires further Norwegian exploration interests

Centrica plc today announced its Norwegian subsidiary, Centrica Energi, has acquired further exploration interests in the Norwegian sector, building on its existing presence within the country.

Centrica has agreed to acquire a 40 per cent interest in the Tommeltott prospect from Total’s Norwegian subsidiary, Total E&P Norge AS.

The acquisition, which covers licences PL 379 and PL 389 (blocks 6406/12 and 6406/11), is located in the Haltenbanken area of the Norwegian Sea. Total will remain operator with a 40 per cent interest in both licences. The licences are close to two Centrica operated licences awarded in January 2007 as part of the APA 2006 licensing round. Centrica acquired a total of four Norwegian licences in the APA 2006 licensing round, including those provisionally named Marc Bolan, T-Rex and Butch Cassidy.

In 2006, Centrica opened an office in Stavanger which now employs 11. The company also helped to underpin development of the Langeled pipeline through a 10 year gas supply contract with Statoil, as well as its role to operate the UK receiving terminal for Langeled. Centrica also holds a 9.7 per cent interest in the Statfjord oil and gas field which straddles the UK and Norwegian sectors.

The new licences provide Centrica with the right to explore for gas within the Norwegian sector, building on exploration interests already acquired in Norway, the UK, Egypt and Trinidad, as part of its strategy to widen its search for new supplies for its British Gas customers. It also holds two operating licences in Nigeria.

Jake Ulrich, Managing Director of Centrica Energy, said: "Norway is a key country for us as we to look to further develop our exploration strategy.

“We already have a strong relationship with Norway and many of the companies there. As part of our global search to secure new supplies for our British Gas customers, we will be looking at other opportunities within the Norwegian sector.”

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