Centrica looking to exit North Sea upstream sector
WINDSOR, UK – Centrica plans to dispose of its interest in Spirit Energy by the end of 2020.
The UK power group, which formed Spirit via a merger with Bayerngas’ Norwegian operation, has decided that E&P is no longer strategically core to its business.
Centrica continues to own and operate the Rough field in the UK southern North Sea, formerly a gas storage site, and the nearby onshore Easington gas processing terminal.
In its latest results review, the company highlighted improved operational performance at Spirit’s operated Morecambe fields in the Irish Sea and the Greater Markham Area on the UK/Dutch North Sea media line.
Earlier this year Spirit brought onstream the Oda field, its first operated development on the Norwegian continental shelf.
Presently it is participating in the Lincoln Crestal well west of Shetland.