Aberdeen oil firm Siccar Point Energy has struck a deal to sell its stake in the Jackdaw discovery in the central North Sea.
Siccar Point said Dutch firm Dyas had agreed to buy its 26% equity interest, allowing the company to focus on its assets west of Shetland.
Jackdaw, discovered in 2005, is located 150miles east of Aberdeen.
It is thought to be capable of producing more than 100million barrels of oil equivalent.
Shell holds the operatorship of Jackdaw and a 74% stake.
Siccar Point bought its 26% non-operated interest in the field from OMV in January 2017.
Siccar Point chief executive Jonathan Roger said: “As Jackdaw operator Shell has carried out some excellent work in progressing this opportunity.
“However, with an exciting programme of exploration, appraisal and development activity in our west of Shetland portfolio we have chosen to focus our resources in this core area and monetise our Jackdaw interest”.
Dyas chief executive Robert Baurdoux said: “Dyas aspires to invest in material upstream projects, which are managed by experienced operators.
“With our Catcher and Mariner developments nearing first production, Jackdaw will provide Dyas with the opportunity to join Shell in developing this exciting gas‐condensate field and bringing more UK gas into our portfolio.”
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