Oil and gas explorer Sterling Resources has agreed a farm-in deal with Shell for two central North Sea exploration blocks.
Shell will pick up a 40% stake in both blocks, which contain the Beverley prospect and the Belinda and Evelyn discoveries.
In return, it will cover 20% of Sterling’s costs for 3D seismic work.
The deal will leave Sterling as operator, with a 20% stake in the blocks. Shell would have 40% and Valiant Petroleum 40%.
Meanwhile, a southern North Sea gas field has been brought back on stream after being shut in. Egdon Resources, which owns 10% in the Centrica Upstream-operated Ceres field, said production had resumed on November 11.