Suncor Energy is considering selling a handful of their oil and gas fields in the North Sea.
Gary Bembridge
A North Sea oilrig.
On the block is the 30,000 b/d Golden Eagle Area located just off the coast of Scotland, valued at around $400 million (€338 million), given its 26.6% stake in the field.
The Candian oil company are also considering divesting smaller oil fields on the Norwegian side of the sea, with a combined estimated value of $100 million (€85.4 million).
The coronavirus pandemic froze in the industry as the price of oil dropped below zero for the first time in history with many companies selling off stocks as the demand for oil continues to slump.
The rough year has caused some companies to go under, resulting in an interesting season for the Oil and Gas industry.
The Calgary-based company are also considering selling its 40% in the Rosebank field located to the west of the Shetland Isles.
Suncor have no yet started formal sales talks, but are currently engaged in discussions with potential buyers.
The company declined to comment on the situation, but official news is expected soon.
Back to Homepage
Back to Energy & Utilities