Rockrose UKCS 10 Ltd reached an agreement to acquire 15% stake in Bressay field and floating production, storage and offloading vessel from EnQuest PLC for £46 million.

Rockrose UKCS 10 Ltd reached an agreement to acquire 15% stake in Bressay field and floating production, storage and offloading vessel from EnQuest PLC (LSE:ENQ) for £46 million on December 22, 2023. Under the terms of the agreement, total consideration in respect of the Bressay field and FPSO is £46 million and will involve an initial payment by RockRose to EnQuest of £34.75 million, which will be used for general corporate purposes, with the remaining £11.25 million to be paid from future Bressay cash flows. RockRose will pay its equity share of capital expenditure associated with the Bressay development, pursuant to an agreed schedule and approvals.

As of March 8, 2024, Viaro Energy has received regulatory approval from the North Sea Transition Authority. Martin Robinson, Martin Pengelley and Harry Cameron of Teneo Financial Advisory Limited acted as financial advisor to EnQuest PLC.