Verus has agreed to acquire Cieco Exploration & Production (UK) from parent ITOCHU Corporation for USD400 million. The effective date of the transaction is 1 January 2018.
The acquisition will includes a 23.1% interest in the Western Isles Development Project, a 25.8% interest in the Hudson field, a 2.0% interest in the Brent Pipeline System, and a 1.2% interest in the Sullom Voe terminal. This will add 11mboepd taking Verus' net production...
