Maersk Oil cuts UK North Sea exposure

Maersk Oil continues its plan to divest itself of interests in the UK’s North Sea. British firm RockRose Energy has snapped up Maersk Oil’s non-operated interests in the Wytch Farm (7.43%), Scott (5.16%) and Telford (2.36%) fields for an undisclosed sum.

Maersk Oil has been steadily reducing its exposure in the UK North Sea region for the past 18 months as it retrenches operations elsewhere amid loss-making conditions brought around by the low price of crude.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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