Maersk in Massive Business Stake Sale


Maersk Oil, a subsidiary of Maersk Group, is to sell three stakes in North Sea and onshore England to RockRose Energy, reported Offshore Post

Production of oil in the North Sea interests is estimated at approximately 2,000 barrels per day.

Maersk is feeling the pinch as a result of the slump in the shipping industry, after previous reports that it had lost close to US$1 billion in Q2, 2016 in comparison to a year prior.

The maritime conglomerate announced that it would be creating a new service between Asia and the West Coast of the US, alongside the rumoured takeover of K-line.

A representative of RockRose energy said in a statement: “Any transaction would be subject to the agreement of a definitive Sale and Purchase Agreement (SPA) with Maersk and the usual regulatory permissions from the Oil and Gas Authority (OGA) and partners.” 

Maersk is due to release the results of its financial review, in which it will unveil a final decision on whether to split its business into an energy and transport company.

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