Nobel Upstream acquires Shell’s stake in North Sea’s Maclure field

Economy Materials 11 February 2016 09:28 (UTC +04:00)

Baku, Azerbaijan, Feb. 11

By Maksim Tsurkov - Trend:

UK-based exploration and production company Nobel Upstream has signed an agreement to acquire a 7.59 percent non-operated interest in the Maclure oil and gas field from Shell, the message of the company said.

Located in the UK North Sea, the Maclure field was discovered in 1991 and put into production in 2002. The field currently produces 8,000 barrels of oil equivalent per day and is operated by Maersk which owns a 38.19 percent stake. TAQA and Apache hold 37.04 and 17.18 percent interests, respectively. Completion of the transaction remains subject to necessary approvals.

"We are very pleased to announce this acquisition and look forward to working with the other stakeholders and, in particular, Maersk who has demonstrated excellent operational management of this asset," Jeremy Huck, CEO of Nobel Upstream, said. "This acquisition is a perfect fit with our growth strategy and an important addition to our existing portfolio in Azerbaijan and North America. We see further potential in the field and consider it a best-in-class North Sea opportunity."


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