KEYFACT Energy
According to a report by Reuters, Chevron plans to sell its remaining UK North Sea oil and gas assets, marking the US energy firm’s exit from the ageing basin after more than 55 years.
The sale process includes Chevron's 19.4% stake in the BP-operated Clair oilfield in the West of Shetland region, the largest in the British North Sea with production of 120,000 barrels per day, Chevron confirmed to Reuters in a statement.
Chevron is also seeking to sell its marginal interests in the Sullom Voe oil terminal, as well as the the Ninian pipeline SIRGE pipeline systems which are both linked to Sullom Voe.
The development follows Chevron's sale of many of its North Sea assets in 2019 to Ithaca Energy.
KeyFacts Energy: Chevron UK country profile l KeyFacts Energy: Acquisitions & Mergers news