Maersk Oil North Sea said yesterday it was looking at further opportunities in the UK after agreeing to spend £81.4million taking take full control of two fields and a floating production vessel.
The deal will see the firm, part of Danish conglomerate AP Moller-Maersk, buy a 30% interest in the central North Sea Dumbarton and Lochranza fields and the associated Global Producer III vessel from Noble Energy, taking its holding up to 100%.
Maersk, which announced major job growth recently, said it already had significant redevelopment plans for the two fields, including tying in potential new discoveries in the area.
UK managing director Martin Rune Pederson said the deal meant the firm could move forward with plans faster and more easily. He added: “We see a lot of potential in the area both in terms of further developments and tying back discoveries to Global Producer III.
“This transaction will help us streamline developments and achieve the full value that we see from this area.”
In April, Maersk said it was to recruit 200 workers – after taking on about 240 since the start of 2011 – as part of plans to double production in five to six years.
Plans for the Dumbarton and Lochranza area include an infill development well due to be drilled this month plus tiebacks of discoveries found in the past couple of years.
Plans are also under way for two exploration wells on nearby licenses. In addition, the firm submitted applications in the latest exploration licensing round.
Noble said net proved reserves at Dumbarton and Lochranza at the end of 2011 were 5.6million barrels of oil equivalent (boe), while Maersk said production was about 20,000 boe per day.
US-based Noble said it was now considering a total exit from the North Sea by selling its other assets in the basin.
According to its website, Noble has 9,000boe per day production in the North Sea and proved reserves of 11million barrels at the end of last year.
Chief operating officer David Stover said: “The sale of these non-strategic properties allows us to focus our resources on our core business units and also strengthens our balance sheet.”