Centrica Divests North Sea Gas Field Stake ...Middle East

Centrica has announced plans to sell off a big chunk of its holding in the Cygnus gas field in the southern North Sea. The deal will see Spirit Energy – a subsidiary of Centrica – offload its 46.25 per cent stake in the site for around £215m to Ithaca Energy. Centrica, which owns British Gas, said the transaction aligned with its strategy to “maximise value from Spirit’s remaining reserves” and deliver an “attractive upfront cash consideration.” Cygnus is one of the largest gas fields in the UK section…

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