Following the announcement of exclusive negotiations with the sellers in June 2007, and signature of Sale and Purchase Agreements with Shell, ExxonMobil, Statoil, and OMV in December 2007, Fairfield Energy Ltd is pleased to announce the completion of its acquisition of interests in the Dunlin, Dunlin Southwest, Osprey and Merlin fields in the Northern North Sea.
Under terms of the transaction Fairfield Energy and partner Mitsubishi Corporation Exploration, have acquired all the equity in the greater Dunlin area from the previous owners.
Fairfield (70% and Operator) and Mitsubishi (30%) plan an extensive program of investment in the assets which provide the opportunity to grow production, add reserves and provide a host production and transportation facility for third party business.
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