Spirit Energy Ltd has completed the sale of a 46.25% interest in the Cygnus gas field to Ithaca Energy plc.
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The companies announced the transaction in May 2025.
Spirit will receive a headline consideration of £116 million and the transfer of £99m associated decommissioning liabilities.
The company retains a 15% interest in the field while Israeli purchaser and operator Ithaca holds 85%.
Cygnus is located 150km east of the Lincolnshire coast in the southern North Sea.