Independent energy group Kistos has executed a binding agreement to farm into the Abbey and Baker gas fields in the UK Southern North Sea. Under the deal, the company’s subsidiary will acquire a 30% non-operated working interest in the Seaward Production Licences and associated infrastructure from current operator Petrogas.
Situated in 40m of water, the planned development consists of four subsea wells tied back to an existing platform. The assets will export output into the UK National Transmission System, targeting first gas for 2029 following an anticipated final investment decision in 2027.
This transaction will add approximately 9m barrels of oil equivalent to Kistos' net proven and probable reserves. Petrogas will retain operatorship and a 70% stake upon completion, which remains subject to North Sea Transition Authority approval later this year.
Track more details on the Abbey & Baker gas developments directly on EICDataStream.