Blackrock and GIC acquires critical North Sea gas infrastructure

Blackrock and GIC have announced the acquisition of Kellas Midstream from Antin. Antin was expected to launch an auction process for Kellas Midstream at the end of the year and it appears that Blackrock and GIC moved quickly and were able to agree a deal ahead of the formal auction. No sale price was disclosed but believed to be in the range of £1.4-2.0 billion. There will be a number of disappointed parties out there who were lining themselves...

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UK North Sea gets shot in the arm with Glengorm

CNOOC, Total and Edison have made one of the biggest finds in the UK North Sea in recent years. The Glengorm discovery is estimated to contain recoverable resources of 250mmboe which is even bigger than Total’s recent success in the West of Shetlands at Glendronach which had 1tcf of gas (c.160mmboe). Glengorm sits on licence P2215 and in the vicinity of both the Culzean and Elgin & Franklin gas fields which could act as future hosts for Glengorm. Glengorm...

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