SICCAR Point Energy has acquired an 8.9 per cent interest in the North Sea's Greater Mariner Area oil field.
The deal is the first by Siccar, a joint venture owned by Blue Water Energy and funds managed by Blackstone Energy Partners, was launched in August 2014. The interest was acquired from JX Nippon Exploration and Production (UK).
Chief executive Jonathan Roger said: "We believe that this is a great time to build a business in the North Sea for a well capitalised and experienced team.
"Mariner’s long reserves life and its resilience to near-term low oil prices position it well in the current environment and we continue to look for similar high-quality assets to add to our asset portfolio.”
Chris Finlayson, the former chief executive of BG Group, has taken over as Siccar's chairman.
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