Gryphon

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.

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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.

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"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.