Aberdeen oil firm DEO Petroleum UK has announced changes to stakes in the Perth licence area in the central North Sea.
Faroe Petroleum, also based in the Granite City, said on Thursday it had conditionally acquired a 28% interest in the undeveloped Perth oil field from Nexen Petroleum UK.
DEO said yesterday Nexen had also conditionally sold its remaining interest in Perth to existing partners Maersk Oil and Atlantic Petroleum, who had raised their stakes to 19.13% and 10.79% respectively.
The new licence partnership has DEO with a 42.08% stake, Faroe with 28%, Maersk on 19.13% and Atlantic holding 10.79%.
DEO Petroleum UK chief executive David Marshall said: “The Faroe management team shares our vision for the future development of the Perth field and can provide complementary skills to further enhance the development plan.
“We are also pleased that both Maersk and Atlantic have increased their stakes in the licence, further illustrating commitment to the planned development.”
Meanwhile, Brent crude oil rose to a 27-month peak above $99 a barrel, closing in on $100 ahead of the February contract’s expiration before falling back slightly to settle at $98.68.
US crude oil for February delivery rose 14 cents to $91.54 barrel.
Brent futures have traded above the American benchmark crude since August last year, supported by a combination of dwindling North Sea supplies and disruption of oil grades priced off it, according to traders.
Norway’s petroleum safety chief, Magne Ognedal, said he saw no need to overhaul the safety regime in Norwegian waters as a result of lessons learned from BP’s Gulf of Mexico oil spill, but added: “There could be certain points that need to be stressed or changed.”