Siccar Point closes Jackdaw divestment

Aberdeen-based Siccar Point Energy has completed the divestment of its equity interest in the Jackdaw discovery to Dyas UK Limited. 

The Jackdaw field is located in the Central North Sea area 250 km east of Aberdeen and 10 km north-east of Jade field.

Siccar Point acquired this interest from the takeover of OMV (U.K.) in January 2017. The field is a gas/condensate accumulation in Jurassic sandstones.

Siccar Point entered into an agreement to divest its 26% equity interest across three production licences covering the Jackdaw discovery to Dyas in early November.

Licenses included in the agreement with Dyas were P.098 (block 30/2a (pre‐ and post‐ Tertiary areas)); P.111 (30/3a Lower); and P.672 (30.2d All).

The completion of the transaction was subject to customary regulatory and partner consents.

Following the provision of these consents, the transaction was completed on Friday, December 22.

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