Perenco has signed an agreement with BP to acquire, subject to regulatory and other approvals, interests in 14 gas fields in the Southern North Sea.
The fields include Indefatigable, East Leman, Davy, Trent, Tyne, Pickerill and Waveney, together with associated pipelines and onshore processing facilities including the Bacton terminal.
Perenco will propose to become Operator for these assets, subject to government and licence partner approvals.
The total proved net gas reserves for these fields is approximately 274 billion cubic feet and the net share of production involved in this transaction is around 150 million cubic feet per day or about 26,000 barrels a day oil equivalent.
Perenco’s objective in the UK is to build a portfolio of operated producing assets focussed on the Southern North Sea Gas Basin. It hopes to use its extensive experience of operating mature fields to prolong field life; initially through its efficient cost structure, followed by further investment where appropriate.
