EGDON Resources, said yesterday it had agreed to acquire EnCore Oil's stakes in nine onshore UK licences, two onshore French licences and a 10% interest in the Venture Production-operated Ceres gas field in the southern North Sea.
BP and fellow British oil and gas operator BG Group have agreed a major swap of UK North Sea assets, with both companies saying the deal enhances their efficiency in core areas.
The UK oil&gas industry has a considerable challenge on its hands to maximise recovery of the nation's remaining 25billion barrels of oil&gas from beneath the seabed.
