Statoil has today completed its deal for JX Nippon’s 45% share and operatorship in the Utgard field.
The move has given Statoil 100% interest in the UKCS licence P312.
The Norwegian operator previously acquired interests in the licence from First Oil and Talisman Sinopec.
The oil major owns 62% of the adjoining licence on the Norwegian Continental Shelf. The two make-up the Utgard field.
A final investment decision for Utgard is planned before end-2016 with production start-up in 2020.