UK-based Zennor Petroleum has concluded the acquisition of First Oil & Gas and Antrim Resources from the joint administrators of First Oil Expro.
As part of the transaction announced in February, Zennor acquired interests in the North Sea producing fields.
The fields include Mungo & Monan (Licence P059), Bacchus (Licence P255), Cormorant East (Licence P201) and Causeway (Licence P1383).
The Mungo field is a normally unmanned facility tied back to the ETAP CPF. The Apache-operated Bacchus Field is located in Block 22/6s North, 6.5km north-east of the Forties Alpha platform.
Production at the Cormorant East is processed through the North Cormorant platform. The Ithaca Energy-operated Causeway field is developed as a subsea tie-back to the Taqa-operated North Cormorant platform.
Zennor will rename the acquired companies Zennor CNS and Zennor Resources in order to align them with its other group subsidiaries.
The company also signed an agreement in February to acquire First Oil’s remaining interest in Cormorant East in addition to its interest in two undeveloped discoveries, Glenn (Licence P244 JR) and Platypus (Licence P1214).
The transaction is subject to fulfilment of the normal conditions of an asset transaction of this type and is expected to complete soon.