Majors move out, minors move in to British North Sea

The sale of gas fields in the British North Sea could be a sign that bigger companies are losing interest in an area with a bit of a future, analysis finds. Serica Energy said Tuesday it was taking on the role of operator at the Bruce, Keith and Rhum fields in the North Sea in a deal with British supermajor BP that could have an initial value of as much as $17 million. Serica gets about 110 staff from BP in a deal that leaves the British supermajor with the costs associated with any decommissioning. Serica, meanwhile, didn’t have to raise any additional equity to finance the deal. The deal for the North Sea means Serica’s production grows from a […]

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