Serica to Acquire BP's Stake in UK's Largest Gas Field
Serica Energy has signed a preliminary deal to acquire BP's 32% stake in the UK's largest producing gas field, Culzean.
Serica Energy plc has signed an agreement to buy BP’s stake in the Culzean gas condensate field in the UK Central North Sea and an exploration license adjacent to the license containing the Culzean field.
The deal marks a significant expansion for the independent oil and gas producer.
Serica has signed a preliminary deal to buy a 32% non-operated interest in the UK’s top producing gas field from the supermajor BP.
Author's summary: Serica buys BP's stake in Culzean gas field.