Viaro Energy acquires certain Shell-ExxonMobil JV North Sea interests

Viaro Energy, through operating subsidiary RockRose Energy Ltd., has acquired full ownership interest in certain UK Southern North Sea assets from Shell UK Ltd. and Esso Exploration and Production UK Ltd., an ExxonMobil Corp. subsidiary. 

The assets are currently operated by Shell through Nederlandse Aardolie Maatschappij, a joint venture between Shell and ExxonMobil.

Viaro will acquire a portfolio consisting of 11 operated offshore assets and one exploration prospect (Shamrock, Caravel, Corvette, Brigantine, Leman, Galleon, Skiff, Carrack Main, Cutter, Carrack East, Barque, and Clipper), as well as the onshore Bacton Terminal. The fields all tie back to the Shell-operated gas processing terminal via Leman and Clipper fields. ExxonMobil is a joint venture partner in all assets with the exception of Shamrock and Selene.

In 2023, production was around 28,000 boe/d (about 5% of UK total gas production). Growth potential exists through redevelopment with existing infrastructure from nearby fields. Viaro estimates 2P volumes of these assets at 58 MMboe, with a projected potential to extract over 120 MMboe of net 2C resources.

The Bacton Gas Processing Terminal provides a direct route for natural gas produced from the Southern and Central North Sea to the UK National Transmission system, operated by the National Grid, enabling gas to flow between the UK and the Netherlands. In recent years, it received the Bacton Rejuvenation Investment of around £300 million to upgrade and extend the life of the terminal for future use. Bacton gas is used to generate about 40% of Britain’s electricity, and it constitutes the main supply of gas for East Anglia and North London’s homes and businesses.