Chevron puts central assets of the North Sea on the block

Chevron has initiated a process to sell a significant number of its North Sea oil and gas badets, becoming the last major US energy player to reduce its activities in the North Sea. region.

which is part of a wider strategic review of Chevron's European badets as the industry comes out of a prolonged slowdown, will see at least six fields offered to potential buyers.

"A decision was made to launch the commercialization process of all of our" badets for sale include the Britannia platform and its satellites, as well as the fields of Jade, Erskine, Elgin / Franklin, Alder and Alba " Chevron said 19659005] The move comes a day after US energy giant ConocoPhillips has agreed to exchange its stake in the North Sea Clear field with BP, in exchange for a new deal. largest share of a project in Alaska

the price decline that began in mid-2014 due to its relatively high production costs.But since then, prices have dropped, while the price of oil reached its highest level in four years, reaching $ 80 per barrel.

Production has increased in the North Sea since 2015 thanks to investments made when oil prices exceeded $ 100 per barrel, but some badysts predict that e declines could resume next year. Total production peaked in 1999 and has declined by more than half since.