Statoil announced on 30 April 2018 that it has agreed to sell its 17% interest in the Alba field, which lies in block 16/26 (P213) to Verus Petroleum. The field is considered a non-core asset and the sale will enable Statoil to focus on core activities. Under the agreement Statoil will retain decommissioning liabilities for the infrastructure in place, but any new installations will be the responsibility of Verus. The effective date of the transaction is 1 January 2018. It is subject to partner and regulatory approval.   Alba was discovered in 1984 and first production was achieved in January 1994, since then it has produced over 424 MMbo and 122 Bcfg. Chevron, who operates the field, commenced development drilling in January 2018, following an 18-month break. This follows a 4D survey which was acquired in 2014 from which data was used to plan for development drilling to sustain production and increase recovery. Development drilling is expected to continue beyond 2020.  Following completion of the deal interest in Alba will be held Chevron North Sea Limited (23.37%, operator), Endeavour Energy UK Limited (25.68%), Verus Petroleum UK Limited (17%), Mitsui E&P UK Limited (13.3%), Spirit Energy Resources Limited (12.65%), EnQuest Production Limited (6.8%) and EQ Petroleum Sabah Limited (1.2%).
United Kingdom, Alba