Kirk Lovegrove & Company Advises JX Nippon on $1.655 billion sale of its UKCS business

November 2021

Kirk Lovegrove acted as strategic and financial adviser to JX Nippon Oil & Exploration Corporation (JX-NOEX) on the sale of its UK subsidiary JX Nippon E&P UK Limited (JXNEPUK) to Neo Energy for $1.655 billion.  The transaction some 26,000 boepd of non-operated production, coming primarily from a 20% interest in the Equinor operated Mariner field and an 18% interest in the TotalEnergies operated Culzean field. In a separate transaction, KLC advised on the sale of JXNEPUK’s interests in the Andrew Area to BP for an undisclosed sum.  Both transactions were signed in late November 2021, with completion expected around end of Q1 2022.