Suncor announced that it will study the sale of the North Sea oil and gas fields


Suncor Energy Inc. of Canada is considering selling a handful of oil and gas fields in the North Sea, according to people with knowledge of the matter.Suncor is investigating the cession of the 30,000 bpd area of ​​Golden Eagle on the UK side of the sea, the people said. Its 26.69% stake could be valued at around US $ 400 million, one said. He is also interested in selling smaller assets on the Norwegian side, valued at around US $ 100 million, another person said.

After a slow start to the year as the coronavirus crisis disrupted industry plans, North Sea asset sales activity resumed in the second half of the year. Exxon Mobil Corp. has started a process of selling its British fields and Eni SpA is looking to sell a production vessel in Norway. Chrysaor Holdings Ltd. this month bought independent oil explorer Premier Oil Plc in a reverse takeover.

Suncor hasn’t started a formal sales process, but engages with potential buyers who have shown interest in the domains, one of the people said.

Suncor did not respond to a request for comment.

The Calgary-based company is also considering selling its 40% stake in the West Shetland Rosebank business, one of the people said. The project, operated by the Norwegian Equinor ASA, is one of the largest undeveloped fields in the UK.

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