Japan's JX To Sell North Sea Oil Field Stake To Faroe Petroleum

Reuters

TOKYO, July 28 (Reuters) - JX Nippon Oil and Gas Exploration Corp said on Friday that its United Kingdom-based subsidiary has agreed to sell a stake in a North Sea oil field to Faroe Petroleum Ltd.

JX Nippon Exploration and Production (U.K.) will sell its 17.07 percent interest of U.K. Licence 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. licence.

The move comes as part of JX's fundamental revision of its upstream portfolio, the company said.

(Reporting by Osamu Tsukimori)

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Director, Business Development
Expertise: Business Development
Location: Hanover, MD
 
Senior Attorney - Royalties Job
Expertise: Legal
Location: Houston, TX
 
Senior Attorney - Supply Chain Legal Advisor Job
Expertise: Legal
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $50.8/BBL 0.13%
Light Crude Oil : $47.55/BBL 0.08%
Natural Gas : $2.94/MMBtu 0.67%
Updated in last 24 hours