West of Shetland M&A proves positive

PE-backed Siccar Point sees recent ownership changes in West of Shetland assets as useful re-organisation

Siccar Point Energy remains bullish on its core West of Shetland (WoS) region on the UK continental shelf (UKCS), based on its excellent exploration and production potential. And it is unfazed at recent M&A activity that has seen some US majors make or plan exits from the province. The firm, founded in 2014 with backing from private equity (PE) heavyweights Blue Water Energy and Blackstone Energy, operates WoS assets including the Cambo field, with estimated reserves of 900mn/boe of oil-in-place. Its CEO Jonathan Roger told Petroleum Economist on the sidelines of Aberdeen's Offshore Europe conference that Cambo could be sanctioned as soon as early next year. The WoS story has been gener