Kistos Strikes Deal for 30% Stake in Two UK Offshore Gas Fields

Kistos has signed a binding agreement with Petrogas North Sea to acquire a 30% non-operated interest in the Abbey and Baker gas fields in the UK Southern North Sea, targeting first gas production in 2029.

The agreement, signed through Kistos Energy, also includes a 30% interest in associated infrastructure, with the acquisition expected to add approximately 9 million barrels of oil equivalent (mmboe) of net proved and probable (2P) reserves upon a final investment decision, anticipated in 2027.

The Abbey and Baker fields are located in the UK Southern Gas Basin in water depths of approximately 40 meters.

The planned development comprises four wells across the two fields, tied back subsea to an existing nearby platform, with gas exported into the UK National Transmission System.

This story was originally published by Offshore Engineer. Read the full story at Offshore Engineer →