HitecVision, owner of Verus Petroleum, is reportedly looking to sell the company according to press. Some USD 500 MM could be netted from a string of assets, particularly after Verus had announced in Sep â18 an agreement to acquire from Itochu its subsidiary Cieco E&P for USD 400 MM in a cash-and-share deal. This includes a 23.1% interest in the Western Isles devt project (Harris + Barra oilfields), 25.8% in the Hudson field, 2% in the Brent pipeline system, and 1.2% in the Sullom Voe terminal. Verus also recently took on an interest in the Chevron-run Alba field as well as Babbage, inter alia. Neither company has confirmed of commented.
United Kingdom, Babbage