North Sea Companies May Sell More Oil, Gas Fields Than in 2005

Oil companies will probably sell at least as many U.K. North Sea assets as they did in 2005 to cash in on high prices and get rid of maturing oil and gas fields, a U.K. acquisitions consultant said.

“The U.K. is not where our future growth is going to come from,” said Martin Tiffen, Total’s U.K. business development director. “The U.K. is already one of the highest cost basins in the world and the only direction is up.”