United Kingdom

Since the early 1990s ONE has been an active investor in the United Kingdom Continental Shelf (UKCS). ONE acquired North Sea interests in inter alia Wytch Farm, Gryphon, Waveney, Cook, Janice, Pierce, Elgin Franklin and Buzzard (the United Kingdom). A number of these assets were subsequently divested over time.

In the first half 2015 ONE completed the acquisition of a 50% operated interest in the Sean field complex as well as a 100% operated interest in an adjoining exploration block. The Sean fields are large gas accumulations in Permian reservoir of excellent quality. Sean has historically acted as a peak shaver and is currently under natural depletion drive. The platform complex provides many opportunities for exploration and development activities.

Through its 9% stake in EOG UK Ltd, ONE currently still holds a minority interest in the Buzzard oilfield and the Golden Eagle Area Development. The acreage in the Greater Buzzard/Golden Eagle Area provides exposure to a significant portfolio of prospects and leads. Targets are largely stratigraphic in nature with most having a smaller element of independent dip-closure.

In the first half of 2017 ONE completed the acquisition of Sterling Resources (UK) Ltd, which includes a 30% working interest in the INEOS operated Breagh gas field in the UK Southern North Sea. 

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