Verus Petroleum entered into a sale and purchase agreement with Maersk Oil North Sea UK for the acquisition of Maersk Oil’s 9.8% interest in the Boa oil field, increasing Verus’s interest in the Boa field to 11.35%.
The deal also adds approximately 1800 boe/d to Verus’s daily production.
The Boa field is a median line field and with this transaction Verus will hold 100% of the UK portion. The Boa field is developed with four subsea wells tied back to the Alvheim FPSO, which is located on the Norwegian side of the median line.
Verus is focused on the creation of value through the acquisition of high quality production assets and, over time, through increased exposure to development projects, Verus CEO Alan Curran said.