SURREY-based Zennor Petroleum has said it has completed the purchase of stakes in five North Sea oil and gas fields from the administrators of the First Oil Expro business developed by tycoon Ian Suttie. The company agreed deals to buy the assets after Mr Suttie put First Oil Expro into administration in February. The interests include a stake in the Causeway development East of Shetland. Zennor acquired the interests for an undisclosed sum. Mr Suttie had previously tried to find a buyer for First Oil Expro, which faced big challenges amid the crude price slump. Cairn Energy and Enquest acquired First Oil Expro’s stake in the giant Kraken heavy oil field off Shetland for nominal consideration before the firm was placed in administration.
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