Korea National Oil Company (KNOC) is considering the sale of a 30% stake in its North Sea subsidiary, Dana Petroleum, according to reports.
It’s understood KNOC is to draft in a bank to facilitate the sale.
According to a report published by Seoul-based business news service, The Investor, ten banks are currently in the running to carry out the sale.
The North Sea stake in Dana is considered to be worth more than £410 million.
A spokesman for Dana Petroleum declined to comment.
More to follow.