Presentation

Siccar Point Energy is a full cycle production, development and exploration company focused on high quality, low cost, long life assets on the UK Continental Shelf. The company was founded in 2014 and is backed by private equity funds Blackstone and Blue Water Energy. The company’s strategy is to build a portfolio of assets where it can utilize its extensive North Sea experience to create value through follow-on investments and reserves growth.

The company has executed two main acquisitions so far; in August 2016, an 8.9% interest in the Mariner field was acquired from JX Nippon E&P and in November 2016 OMV’s UK subsidiary was acquired, which included inter alia the Schiehallion, Jade and Rosebank fields. As a result, the company holds a unique portfolio on the UK Continental Shelf, comprising large, long life and low-cost assets. The core assets are the BP operated Schiehallion field and the Equinor operated Mariner field. Schiehallion is the UK’s second largest producing field today and is expected to produce until at least 2037. Mariner, UK’s current largest green field development, came on stream in H2 2019 and will produce for over 30 years.

Siccar Point Energy also has an extensive portfolio of additional development and exploration opportunities. In 2018, the company farmed down 30% interest in the Cambo discovery to Shell and successfully appraised and tested the discovery with an extended well test. FID has been deferred to 2021. The company also has 20% interest in the large Rosebank discovery, 30 km north-east of Cambo.