Marathon Oil sells UK business for £107m
26 February, 2019
US major Marathon Oil has agreed to sell its North Sea business to UK independent oil and gas production company RockRose for £107m.
Marathon’s UK portfolio includes operated and non-operated assets in the Greater Brae, Foinaven and Foinaven East areas.
Production from its West of Shetland assets is estimated at 13,000 barrels of oil equivalent per day.
The deal will see all 250 employees from Marathon’s UK subsidiaries Marathon Oil UK LLC and Marathon Oil West of Shetland Limited transfer to RockRose.