Saturday, August 24, 2019

US Grants BP, Serica Licence to Run Iran-owned North Sea Field

October 9, 2018

(Image: Serica Energy)

BP and Serica Energy (SQZ.L) received a conditional licence from U.S. authorities to continue operating a North Sea gas field partly owned by Iran's national oil company, Serica said in a statement.

The U.S. Office of Foreign Assets Control extended a licence for U.S. and U.S.-owned or controlled entities to provide goods, services and support the Rhum field, which supplies around 5 percent of Britain's gas demand.

The extension will allow Serica to complete the acquisition of BP's stake in Rhum as well as the Bruce and Keith fields, as well as buying Total's stakes in Bruce and Keith, it said.

(Reporting by Ron Bousso, editing by Louise Heavens)

Related News