Suncor’s key UKCS asset is its 29.9pc stake in the Buzzard field
Suncor in no rush on UKCS sale
The Canadian producer’s exit from Norway may not be closely followed by divestment across the maritime border
Proceeds from the sales process Canada’s Suncor Energy has initiated for its UK continental shelf (UKCS) upstream assets are not included in the firm’s expectations of 2022’s free cash flow (FCF) after capex, dividends and income from divestments, suggesting it is not seeking a swift deal. Analysts feel it is right to take its time, as buying interest could be strong. “The UK will not be in” the divestment income element of 2022 FCF calculations, says Suncor CFO Alister Cowan, “it will be a 2023 number”. The firm is, though, factoring in c.$400mn of gross proceeds from the sale of its Norwegian continental shelf (NCS) assets to private equity-backed new entrant Sval Energi, which it expects
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
