Acquisition of the Sleipner field

On December 30th 2015, LOTOS Norge finalized the acquisition of a portfolio of Sleipner assets located in central part of the North Sea. Being the second largest gas hub in the North Sea, the Sleipner area is of strategic importance to gas exports from Norway to Continental Europe and the United Kingdom.

more than

16 thousand boe/d *

production volume attributable to LOTOS Norge’s interest in the Sleipner assets towards the end of 2015

9.5 thousand boe/d*

estimate of the expected average oil and gas output from the Sleipner fields attributable to LOTOS Norge’s interest in 2016−2018

The base purchase price of the Sleipner portfolio was USD 160m (PLN 587.3m). The acquisition was a non-cash transaction executed by unlocking the tax asset generated from the YME Project. 

The transaction covered interests in five licences, including four production fields and the Alfa Sentral field, discovered and scheduled for development. Statoil is the operator of all those licences, and the other consortium partners are Exxon and Total. 

As at December 31st 2015, following the acquisition of the Sleipner assets, LOTOS Norge held interests in 27 licences for oil exploration and production on the Norwegian Continental Shelf.

* Barrels of oil equivalent per day