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EdF to acquire North Sea gas fields

EdF to acquire North Sea gas fields

Electricite de France SA said Monday it has agreed to buy controlling stakes in two North Sea gas fields from the British unit of U.S. company ATP Oil & Gas Co. in a deal to expand its natural gas supplies.
The French energy giant said is has agreed to pay 265 million pounds (US$406 million). The deal gives EdF a 68-percent stake in the North Sea's Tors zone and 80 percent of the Wenlock field. The fields have combined reserves of about 3 billion cubic meters of natural gas, EdF said.
ATP Oil & Gas UK will continue to operate the fields, EdF added.


Updated : 2021-04-13 19:45 GMT+08:00