Energy Voice | Japanese firm seeking to sell stakes in North Sea assets

Japanese firm Itochu is planning to sell its stakes in two North Sea developments, according to a news report.

Reuters said the company is aiming to fetch up to £185million through the sale.

It includes Itochu’s 25% stake in the Western Isles cluster and Hudson field east of Shetland.

The news agency cited “banking sources” in its report without naming any.

Korean-owned Dana Petroleum owns the assets.

The Western Isles field cluster yielded 45,000 barrels of oil per day in April.

Reuters said the sale is being run by Scotiabank.

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