StockMarketWire.com - Serica Energy said it had agreed to acquire additional interests in the Bruce and Keith fields in the UK North Sea from Marubeni.

Serica would acquire a 3.75% interest in the Bruce field and the 8.33% interest in the Keith field, plus associated infrastructure, from the Japanese company.

The structure of the transaction differed from the other deals that Serica had entered into with BP, Total and BHP Billiton over the assets.

Serica would acquire the decommissioning obligations of Marubeni, but receive in turn a cash consideration from Marubeni.

There would be no deferred or contingent consideration, reflecting in part the small interest in Bruce being acquired.

The transaction had an effective date of 1 January and completionwas subject to completion of the previously announced acquisition of interests in the Bruce, Keith and Rhum fields from BP.


At 2:41pm: [LON:SQZ] Serica Energy PLC share price was +4.75p at 132.75p



Story provided by StockMarketWire.com