Centrica buys North Sea assets from Total

British Gas owner Centrica is to acquire the Total E&P UK's non-operated portfolio of producing oil and gas assets (and associated infrastructure) in the Central North Sea (CNS).

British Gas owner Centrica is to acquire the Total E&P UK's non-operated portfolio of producing oil and gas assets (and associated infrastructure) in the Central North Sea (CNS).

The acquisition, worth $388m (£246m), is expected to add around 5% to Centrica's existing 2P (proven plus probable) reserves, an addition of 22m barrels of oil equivalents (36% gas, 64% oil).

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