Perenco enlarges its Southern North Sea asset arsenal

April 14, 2026, by Melisa Cavcic

Perenco UK (PUK), part of Anglo-French oil and gas player Perenco, has augmented its portfolio in the Southern North Sea with the acquisition of two licenses on the UK Continental Shelf (UKCS).

Following the change of control approval from the North Sea Transition Authority (NSTA), Perenco completed the purchase of various Saturn Banks‘ assets from CalEnergy Resources. The transaction covered CalEnergy North Sea and CalEnergy Infrastructure, renamed Perenco SNS and Perenco UK Infrastructure, respectively, and the corresponding 50% participating interest in, and operatorship of, the Blythe and Elgood licences.

Jo White, UK SNS General Manager, commented: “Perenco is glad to add these blocks into our existing portfolio of Southern North Sea fields that produce into our Bacton terminal on the Norfolk coast. Our immediate focus will be on continuing safe and efficient operations.

“In the medium term we will look for ways to enhance production and reduce unit operating costs, including by bringing the Blythe H2 well into our LAPS compressor within the coming year.”

Perenco processes almost 15% of the UK national gas production in the North Sea, as it owns and operates infrastructure on the UKCS, comprising 32 offshore installations, 12 subsea wells, and a network of more than 2,000 kilometers of pipelines connected to its two onshore terminals at Bacton and Dimlington where the gas is received, treated, metered and then exported into the UK National Grid.

This acquisition comes months after the company finished a revitalization program at offshore fields in Trinidad & Tobago and the installation of a converted mobile offshore production unit (MOPU) in Congolese waters.