Centrica (LSE:CNA) said its Spirit Energy division has completed the sale of its remaining 15% interest in the Cygnus gas field, along with all other producing assets in the Greater Markham Area and Southern North Sea, to Serica Energy plc.
The deal brings final consideration of £33 million, alongside the transfer of £44 million of decommissioning liabilities to Serica.
With the sale done, the Morecambe Hub becomes Spirit Energy's sole principal producing asset, holding total retained reserves of 9 million barrels of oil equivalent.
Spirit Energy said its focus now turns to maximising value from Morecambe, progressing the Morecambe Net Zero carbon storage project, and decommissioning its remaining facilities and wells with minimum environmental impact.