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GDF SUEZ welcomes E.ON as new partner in UK Austen field

LONDON -- GDF SUEZ E&P UK has signed an agreement with E.ON E&P UK through which E.ON will acquire a 25% share in the Austen (formerly Jacqui) field in the Central North Sea (License P.1823, Block 30/13b). GDF SUEZ will retain a 75% interest in, and operatorship of, the development. Subject to Department of Energy and Climate Change (DECC) approval, the deal will allow the partners to accelerate the development of the Austen discoveries.

The agreement follows successful appraisal drilling in 2012, and takes place as the field moves into the concept-selection stage, which will identify development and export options for one of GDF SUEZ’s major operated assets.

GDF SUEZ acquired the license containing the Austen discovery, which is located in the East Central Graben area, as part of the 26th UK Offshore Licensing Round in 2011. The field comprises a gas condensate discovery and two oil discoveries, and has additional upside potential from several un-appraised compartments.



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