UK independent Serica Energy is to buy Parkmead’s UK licences for £5mn, it said December 12. This includes a 50% working interest in licence P2400 (Skerryvore) and a 50% working interest in licence P2634 (Fynn Beauly).
It will pay an additional £9mn in stages over the next three years, as well as contingent payments linked to certain regulatory approvals of its field development plans.
Serica already holds a 20% interest in Skerryvore. Following completion of the transaction, it will hold 70% and become the operator.
The transaction is expected to close in the first half of 2025, subject to customary completion adjustments, the carve-out of Parkmead’s Dutch assets to a Parkmead affiliate and UK regulatory approval for the change of control.
https://www.serica-energy.com/
Share this article
