LONDON (Alliance News) - Xcite Energy Ltd Wednesday said its Xcite Energy Resources PLC subsidiary has signed a deal with Statoil (UK) Ltd and EnQuest Heather Ltd under which the companies will share field-specific technical and operation information in order to evaluation the possible use of common gas import infrastructure between three North Sea oil fields.
A joint team comprising Xcite Energy Resources, Statoil and EnQuest will collaborate on analysing the currently available information and developing a range of proposals to consider the benefits of installing a shared gas import pipeline in conjunction with the development of the Kraken, Bentley and Bressay fields.
"We are pleased to continue to work with Statoil and extend this to include EnQuest in the assessment of this shared infrastructure. This new collaboration with Statoil and EnQuest to assess this shared infrastructure is an important initiative, which highlights the scope of potential opportunities available to our respective projects," said Xcite Energy Chief Executive Rupert Cole.
Xcite shares were up 1.4% to 66.68 pence in early trade Wednesday. FTSE 250-listed EnQuest's shares were up 0.4% to 114.30 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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