Chrysaor’s chief executive said today that the acquisition of £3billion worth of North Sea assets from Shell could be just a start for the company he founded.
Phil Kirk said Chrysaor was “focused on growth” and was not interested in cost cutting.
Mr Kirk also said he look forward to working with Shell’s employees once they switch to Chrysaor, which will have an office in Aberdeen.
He said: “This is a great deal for Chrysaor, Shell, the UK and our backers.
“It gives us an opportunity to access a portfolio of assets that otherwise would not have been readily available on the market.
“From day one, we’re going to be one of the top six producers in the UK.
“It gives us a number of producing fields as well as a huge bank of opportunities we can deliver with our new partners.”
Mr Kirk said the costs for the assets were below $15 a barrel and that Chrysaor would have production of about 110,000 barrels a day.
Four hundred Shell staff members will move to Chrysaor once the deal is finalised.
Mr Kirk added: “The unique asset we’re getting is the people. Everyone is hugely competent and highly skilled.
“I can assure them we are not going to change anyone’s terms and conditions.
“We look forward to having an office in Aberdeen and contributing to the local economy of Aberdeen, of Scotland, and of the UK as well.”
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