PARIS, France — TotalEnergies has agreed to sell its west of Shetland E&P assets to London-based Prax Group, pending approval from the authorities.
The package covers interests in the Laggan, Tormore, Glenlivet, Edradour and Glendronach fields, the onshore Shetland Gas Plant that receives their production, and nearby offshore exploration licenses.
TotalEnergies’ share of the fields’ production is about 7,500 boe/d, of which about 90% is gas. The transaction includes the transfer of relevant employees to Prax in compliance with legislation.
Prax Group gained a foothold in the area through acquired Hurricane Energy, the developer of the early production system for the basement Lancaster oil field. According to the company, its specialists cover all main disciplines of geology, engineering and offshore operations.
