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Centrica plc is pleased to announce that Spirit Energy has completed the sale1 of its remaining 15% interest in the Cygnus gas field, and all other producing assets in the Greater Markham Area and Southern North Sea, to Serica Energy plc for final consideration of £33 million and the transfer of £44 million of decommissioning liabilities.
With completion of the transaction, the Morecambe Hub is now Spirit Energy's principal producing asset, with total retained reserves of 9 mmboe2. Spirit Energy's primary focus will remain on maximising value from Morecambe whilst progressing the Morecambe Net Zero carbon storage project, alongside safely and efficiently decommissioning its facilities and wells with minimum environmental impact.