Reuters: Chrysaor eyeing Chevron North Sea fields

Chevron logo; Image by: Tony Webster; Source: Flickr - under the CC BY-SA 2.0 license (image is cropped)

London-based independent oil & gas company Chrysaor is looking to continue its shopping spree as Reuters on Thursday said the company was looking to buy Chevron’s North Sea fields.

Chrysaor last year bought a package of Shell’s UK North Sea assets for up to $3.8 billion. It then in June acquired Spirit Energy’s entire interests in the Armada, Maria, and Seymour fields offshore the UK, and it recently entered the Norwegian sector via the acquisition of a stake in Grevling oil discovery in the Norwegian sector of the North Sea.

According to a Reuters report on Thursday, the privately-backed oil company has now set its sights on Chevron’s fields in the UK North Sea.

To remind, back in July, Chevron revealed its plans to sell its UK Central North Sea fields. These include Alba, Alder, Britannia (and satellites), Captain, Elgin/Franklin, Erskine, and Jade fields. It then in October agreed to sell the Rosebank development off the UK to Equinor.

According to Reuters’ sources, apart from the Central North Sea fields that Chevron’s earmarked for sale, Chevron’s stake in the giant BP-operated Clair field sitting West of Shetland is also being considered by Chrysaor. The Clair field was not mentioned as being considered up for sale when Chevron in July first said it was looking to divest some North Sea fields.

The news agency’s sources say Chrysaor might pay around $2.5 billion for the batch of Chevron’s UK North Sea assets.

Offshore Energy Today has reached out to Chrysaor, seeking more info. Chrysaor’s spokesperson declined to comment.

 

Offshore Energy Today Staff

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