Respol has reached a deal to buy Total’s stake in the Visund field in the North Sea.
The deal will see the company take control of 7.7%, with Repsol’s output in Norway increasing by approximately 40% to around 30,000 barrels of oil equivalent per day.
Visund is operated by Statoil with a 53.2% stake, the rest is now split up between Petoro (30%), ConocoPhilips (9.1%) and Respol with 7.7%.
The field, which reached an average production of 124,614 barrels of oil per day last year, is seated around 87 miles west of the Sogne Fjord in Norway.
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