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

0
30


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.

Which of these energy stocks would you buy now?

Total results: 0



LEAVE A REPLY

Please enter your comment!
Please enter your name here