London-based independent upstream company Viaro Energy is to buy a major set of UK gas assets from Shell Expro, the upstream joint venture company owned half by ExxonMobil. It will become the sole owner of one of the largest and oldest portfolios in the UKCS and the beach terminal at Bacton. Its statement did not say how much it paid.
The fields produced 28,000 barrels of oil equivalent/day in 2023, or 5% of UK’s total, which more than doubles Viaro’s producing portfolio and reaffirms long-term commitment to UKCS North Sea.
Viaro Energy will become an operator and as the sole owner of the Bacton Gas Processing Terminal it says it expects to play an important role in the energy transition.
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