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SSE is paying £33 million to increase its share in three Southern North Sea gas fields, the energy company announced today.
The deal concluded with oil and gas firm Perenco will see SSE’s equity stake in the Apollo, Minerva and Mercury fields rise by 50 per cent.
SSE said the deal, to be completed next year, will increase its producing gas reserves by over 200 million therms over the life of the fields.
David Franklin, managing director of Energy Portfolio Management, said: “‘SSE’s upstream gas assets provide a good source of primary fuel and a hedge for our gas generation and supply activities, and we are therefore proactively seeking new opportunities to increase our presence in this sector where assets can be acquired for a fair price.”
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