Nobel Upstream has signed an agreement to acquire a 7.59% non-operated interest in the Maclure oil and gas field in the UK North Sea from Shell.

The Maclure field was discovered in 1991 and became operational in 2002.

The field is operated by Maersk with a 38.19% stake and is currently producing 8,000 BOEPD. Remaining partners are TAQA and Apache holding 37.04% and 17.18%, respectively.

Nobel Upstream said that the acquisition is part of the company’s upstream strategy to build a balanced portfolio of upstream assets in the Former Soviet Union (FSU) and the Organisation for Economic Co-operation and Development (OECD).

"We see further potential in the field and consider it a best-in-class North Sea opportunity."

Nobel Upstream CEO Jeremy Huck said: "We are very pleased to announce this acquisition and look forward to working with the other stakeholders and, in particular, Maersk who has demonstrated excellent operational management of this asset.

"We see further potential in the field and consider it a best-in-class North Sea opportunity."

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The acquisition will also serve as an important addition to the company’s existing portfolio in Azerbaijan as well as North America.

The Maclure field has been developed as a subsea tieback to the Maersk-operated Gryphon FPSO located 3km to the west.

Oil from the Maclure is exported by shuttle tanker.

Completion of the transaction is subject to necessary approvals.

Image: Maersk-operated Gryphon FPSO. Photo: © A.P. MOLLER – Maersk Group.