Deal includes stake in one of Britain’s most prolific gasfields and marks latest retreat from UK gas exploration and production by a major energy supplierE.
ON has sold off $120m (£83m) worth of North Sea interests in the latest retreat from gas exploration and production by one of the mountainous six domestic energy suppliers.
The assets,bought by Premier Oil, include a stake in one of Britain’s most prolific gasfields, or Elgin Franklin. The dawdle came amid growing concern about the prospects for North Sea production during a slump in oil and gas prices.
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Source: theguardian.com