Serica Energy plc has lost its bid to acquire all of BP’s stake in the Culzean gas condensate field after project partner NEO NEXT exercised its pre-emption rights. DISAPPOINTING The 13 October purchase agreement covered a 32% non-operated working interest in UK central North Sea licences P111 and the adjacent P2544, for $232 million cash. […]
Tag: Licence P111 – Culzean gas condensate field – UK central North Sea
Serica plans to buy BP’s stake in Culzean field
Serica Energy plc plans to buy BP’s 32% non-operated working interest in UK central North Sea licences P111, containing the Culzean gas condensate field, and the adjacent P2544, for $232 million cash. WORLD-CLASS The purchase is subject to a 30-day pre-emption period during which Culzean partners – operator TotalEnergies holding 49.99%, and NEO NEXT (18.01%) […]