Serica Energy Plc has entered a sale and purchase agreement for oil and gas assets located in the UK North Sea from Total E&P UK Limited for $20m.
The UK North Sea assets comprise 42.25% interest in the Bruce field and 25% interest in the Keith field.
Total E&P will retain 1% interest in the Bruce field, following the deal.
The deal aims to help Serica Energy expand its oil and gas assets portfolio in the UK North Sea.
Norwegian offshore equipment provider JB Well Solutions has entered a joint venture agreement along with Scottish entrepreneurs Robbie Garden and Robbie Gray to improve safety in the oil and gas industry.
The new JV aims to target the UK market and provide better services to its customers. It also aims to strengthen its footprint in the UK oil and gas market.