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DUBAI, Aug 30 (Reuters) - Kuwait Foreign Petroleum Exploration Co (KUFPEC) said on Wednesday it had agreed to buy an additional 15 percent of Norway's Gina Krog offshore oil field from France's Total for $317 million.
The deal will double KUFPEC's interest in the field to 30 percent; last year it agreed to buy stream interests in Norway, including 15 percent of Gina Krog, from Total for $300 million. Gina Krog came onstream in June 2017 and is operated by Statoil.
KUFPEC, a unit of state-owned parent Kuwait Petroleum Corp, will add about 34 million barrels of oil equivalent (boe) in net reserves and 9,000 boe per day of production as a result of the new deal, taking its production in Norway near 25,000 boe per day.
(Reporting by Andrew Torchia, editing by Louise Heavens) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))
The deal will double KUFPEC's interest in the field to 30 percent; last year it agreed to buy stream interests in Norway, including 15 percent of Gina Krog, from Total for $300 million. Gina Krog came onstream in June 2017 and is operated by Statoil.
KUFPEC, a unit of state-owned parent Kuwait Petroleum Corp, will add about 34 million barrels of oil equivalent (boe) in net reserves and 9,000 boe per day of production as a result of the new deal, taking its production in Norway near 25,000 boe per day.
(Reporting by Andrew Torchia, editing by Louise Heavens) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))
