British oil fields change hands

Equity fund-owned oil producer Chrysaor, which bought many of Shell's North Sea fields last year, has now been on another shopping spree on the UK Continental Shelf in the North Sea.

Photo: Hjalmar Otto Fjøsne/Aker Solutions

Until fairly recently, Shell, BP, Maersk and Dong were the major North Sea players. But in just two years, the ownership structure in the North Sea has radically changed, and now one of the most aggressive newcomers, UK-based Chrysaor, is taking another step on the UK Shelf.

But this time, it is not one of the major oil firms that is divesting in the North Sea. Instead it is a small, independent player. Chrysaor is buying Spirit Energy out of three older fields on the UK Shelf – namely the fields Armada, Maria and Seymour. According to plan, the deal will be finalized in the second half of 2018.

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