Halliburton to take over Amoco interest of UK's NW Hutton asset

Apr 13, 1998 02:00 AM

Halliburton Energy Development (HED) is in negotiation with Amoco for the purchase of its 25.77 % interest in the NW Hutton asset in the North Sea. The acquisition and change of operatorship would require the approval of the UK Government and the other partners in the asset, Cieco, Petrobras and Mobil.
"By applying Halliburton's core skills and expertise and striving for comprehensive alignment with our customers and partners, we can achieve more creative and cost-effective solutions to extend the life of mature assets like NW Hutton," said Norman Chambers, president of HED.

The NW Hutton asset falls in North Sea blocks 211/27a and 211/27c, and also comprises minor interests in the Brent oil export system and the Sullom Voe terminal.
NW Hutton has been in production since 1982 through a single fixed leg platform.
Amoco is currently the NW Hutton field Operator and holds a 25.77 % interest in the asset. Other partners are Cieco (25.77 %), Petrobras (28.46 %) and Mobil (20 %).

Source: not available
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