UK Utility SSE Dives Into UK Upstream

摘要

UK utility Scottish and Southern Energy (SSE) is making its first upstream acquisition, announcing Thursday that it has agreed to pay US-based Hess $423 million for natural gas assets and infrastructure in three areas of the UK North Sea. The deal is subject to pre-emption rights from existing partners in the assets - which lie in the Everest/Lomond area, operated by BG; the Easington Catchment area, operated by BP; and the French Perenco-operated Bacton area. Hess is understood to be exiting the UK to focus on higher value plays in Brazil and elsewhere.