Perenco, Gabon's largest oil producer, has finalized the acquisition of the Saturn Banks assets in the UK North Sea after receiving regulatory approval. The transaction was arranged with CalEnergy Resources and involves the purchase of CalEnergy North Sea Limited and CalEnergy Infrastructure Limited, which have been renamed Perenco SNS Limited and Perenco UK Infrastructure Limited, respectively. Perenco confirmed that the deal also grants it a 50% participating interest and operatorship in the Blythe and Elgood licenses. These assets are situated in the Southern North Sea gas basin and are connected to Perenco's existing infrastructure, including the Bacton terminal on the Norfolk coast. Jo White, General Manager of Perenco UK Southern North Sea, stated: "Perenco is pleased to integrate these blocks into our current portfolio of Southern North Sea fields, all of which deliver production to our Bacton terminal in Norfolk. Our immediate focus remains on maintaining safe and efficient operations. In the medium term, we will explore opportunities to increase output and reduce unit operating costs, including connecting the Blythe H2 well to our LAPS compressor within the next year." The acquisition strengthens Perenco's position in the UK gas sector, where the company operates several mature fields and related infrastructure.
Comments