Bids to buy North Sea producer Siccar Point Energy have come in at between $1.2bn and nearly $2bn, according to a news report.
Citing industry sources, Reuters said Chrysaor, HitecVision, Rockrose and Equinor were all in the running.
Chrysaor, which earlier this year completed its acquisition of ConocoPhillips’ North Sea portfolio, was the front-runner with a bid of nearly $2bn, Reuters added, in the first round of bids ending on November 7.
It was first reported in July that Siccar was considering a sale.
Siccar’s portfolio includes the 900million barrel Cambo development in the West of Shetland, scheduled for a final investment decision “as early as possible” in 2020, according to chief executive Jonathan Roger.
Around 35% of the reserves can be recovered, according to Siccar.
The firm also has an 11.8% stake in BP’s Schiehallion field, and interests in Equinor’s Rosebank (20%) and Mariner (9%) projects.
Siccar Point made waves in the North Sea when it purchased OMV’s portfolio in 2016, focussed on the West of Shetland.
The firm recently revealed it had picked Sembcorp – whose yards in Singapore were used for constructing the Culzean platforms and floating storage unit – for the Cambo FPSO build.
Cambo, about 78 miles north-west of Shetland, was discovered in 2002 and subsequently had four appraisal wells drilled up to 2012.
A final successful appraisal well was drilled and flow tested by Siccar in summer 2018.
Shell acquired a 30% working interest stake in the field from Siccar Point last year.