Siccar Point banks on quality

The North Sea new entrant is relying on its assets base

Siccar Point Energy entered the UK North Sea as recently as 2016 with the acquisition of a stake in the Mariner field from Japan's JX Nippon. It substantially expanded its portfolio later that year with a deal to buy Austrian OMV's North Sea business, giving it, amongst other assets, stakes in the Schiehallion and Rosebank fields and several west of Shetland discoveries. Siccar Point, backed by private equity (PE) firms Blackstone and Blue Water Energy (BWE), has also worked on fine-tuning its holdings—selling its stake in the Jackdaw discovery to the Netherlands' Dyas, farming out a stake in its Lyon prospect to UK chemicals firm Ineos and selling a portion of its interest in the Cambo disc