LONDON, Dec. 5 (UPI) -- RWE Dea U.K. Managing Director Dirk Schoene said offshore acreage acquired west of the Shetland Islands fits "perfectly" into its North Sea strategy.
RWE Dea, a German energy company, said it acquired a stake in the Mustard prospect from rival Chrysaor CNS Ltd. for an undisclosed sum.
"Mustard will fit perfectly into our expanding portfolio of North Sea and West of Shetland assets and we are looking forward to being part of this exciting opportunity," Schoene said in a statement Wednesday.
RWE announced in October production from the Breagh field in British waters of the North Sea started with a flow rate of 97 million cubic feet of gas per day.
Chrysaor said in a separate statement it retains a 75 percent interest in the Mustard prospect and will serve as the operator there. Both sides said they planned to drill an exploration well in Block 205/27 of the Mustard prospect by 2015, though neither side offered an estimate of the reserve potential.
The agreement is subject to the approval of the British Department of Energy and Climate Change.
