BG and SSE sell assets in North Sea

UK

ABERDEEN, October 27, 2015 – Serica Energy and two partners have bought assets from UK companies BG Group and SSE E&P in the North Sea’s Columbus field, the UK exploration and production independent announced in a Tuesday press release.

BG Group and SSE E&P have sold their stakes in Block 23/21a to Serica, state-owned electricity company Endeavour Energy and US oil and gas company EOG Resources. This will allow the three buyers to hold a 100-percent stake in the Columbus field collectively.

The financial details of the transaction have yet to be disclosed.

According to Serica’s statement, developing the Columbus depends highly on the access to infrastructure in the area. Further discussions and negotiations for collaboration with companies in nearby fields are being held.

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