IAN Suttie has said his First Oil business is on the hunt for more acquisitions in an update which highlights the appeal of the North Sea.
IAN Suttie has said his First Oil business is on the hunt for more acquisitions in an update which highlights the appeal of the North Sea.
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MARK WILLIAMSON
The Aberdeen-based tycoon said First Oil was actively targeting acquisitions as it looked to maintain the rapid growth it had achieved in recent years.
First Oil, which describes itself as the largest private UK-owned producer in the North Sea, increased reserves by 18% in the year to April 30 to 34 million barrels oil equivalent, from 29 million at the end of the preceding period.
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