Deal includes stake in one of Britain’s most prolific gasfields and marks latest retreat from UK gas exploration and production by a major energy supplier
E.ON has sold off $120m (£83m) worth of North Sea interests in the latest retreat from gas exploration and production by one of the big six domestic energy suppliers.
The assets, bought by Premier Oil, include a stake in one of Britain’s most prolific gasfields, Elgin Franklin. The move came amid growing concern about the prospects for North Sea production during a slump in oil and gas prices.