Italy's Edison is to acquire Apache Beryl I's assets in license P185 Block 15/22 in the UK Central North Sea, including non-operated stakes in the Scott (10.5%) and Telford (15.7%) fields.
This deal, which is subject to customary closing conditions, when completed will increase Edison’s reserves by 8.7 MMboe (85% oil and 15% gas).
In 2014, the equity production of the Nexen-operated Scott and Telford fields has been 1.276 MMboe and it is expected to remain stable in the next 3-4 years - ensuring an average of 3500 boe/d to Edison, pushing Edison's overall UK production up to about 6500 boe/d and Edison daily total production to 53,500 boe.
Nicola Monti, Executive Vice President for Edison Upstream, says: “The acquisition in Scott and Telford fields, combined with the recent awards in the 28th Seaward licensing round, demonstrates Edison determination in strengthening its UK portfolio and represents a further growth platform for the company."
Edison successfully participated to the 28th Seaward Licensing Round and, on 6 November 2014, was awarded four licenses in the UK Central North Sea and one license in the UK Northern North Sea. One further license, in the West of Shetland and one in the Central North Sea are pending approval.
Edison currently holds interests in four production fields in the Southern Gas Basin (Markham, Killmar, Garrow e Wenlock) in addition to the participation in three exploration licenses in the Central North Sea and West Shetland Islands.
