JX Nippon Oil and Gas Exploration Corp. said on July 28 that its U.K.-based subsidiary has agreed to sell a stake in a North Sea oil field to Faroe Petroleum Ltd.
JX Nippon E&P (U.K.) will sell its 17.07% interest of U.K. License P111 Block 30/3a, comprising a part of the Blane oil field, the company said in a statement.
The Blane Field had gross production of about 2,900 barrels per day of oil equivalent last year. Faroe is an existing partner in the U.K. license.
The move comes as part of JX’s fundamental revision of its upstream portfolio, the company said.
Recommended Reading
Darbonne: The ESG Sword: BlackRock's Life, Death by ESG
2024-04-17 - BlackRock, the $10 trillion investment manager, is getting heat for too much ESG investing, while shareholders are complaining it’s doing too little.
Fire Closes Atlas Energy’s Kermit, Texas Mining Facility
2024-04-15 - Atlas Energy Solutions said no injuries were reported and the closing of the mine would not affect services to the company’s Permian Basin customers.
Coalition Launches Decarbonization Program in Major US Cities, Counties
2024-04-11 - A national coalition will start decarbonization efforts in nine U.S. cities and counties following a federal award of $20 billion “green bank” grants.
Exclusive: Scepter CEO: Methane Emissions Detection Saves on Cost
2024-04-08 - Methane emissions detection saves on cost and "can pay for itself," Scepter CEO Phillip Father says in this Hart Energy exclusive interview.