Energy company E.On E&P has taken a 25% stake in the Austen field in the central North Sea.
Pending regulatory approvals, the company will join with licence holder GDF Suez E&P UK on the field in a move expected to accelerate development of the Austen discoveries.
The agreement follows successful appraisal drilling last year and takes place as the field moves into the concept selection stage to identify development and export options.
Jean-Claude Perdigues, managing director of GDF SUEZ E&P UK said: “Austen is one of our major exploration assets and we welcome E.ON E&P into the partnership as we enter this exciting new phase where we will make decisions on development plans and export routes.”
