Spirit Energy to extend life of York gas field in North Sea to 2023/24

Spirit Energy to extend life of York gas field in North Sea to 2023/24

Production at Spirit Energy’s York gas field in the North Sea will be extended until 2023/24, three to four years longer than previously expected, the company said on Tuesday.

A further 18 billion cubic feet of gas is now expected to be extracted from the field, which has already produced 45 billion cubic feet of gas over the past eight years, Spirit said.

The field, which began production in 2013 was originally planned to produce gas until 2020.

Spirit was created in 2017 from the merger of Centrica and Bayerngas Norge’s oil and gas assets in Britain, Denmark, the Netherlands and Norway.

Centrica owns a 69% stake in the company, which it is trying to sell.

The remaining shares are held by Bayerngas Norge’s former shareholders, led by Stadtwerke München Group (SWM).

Source: LSE

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Published: 20-04-2021