Matter of interest
Centrica has reached an agreement with Hess to acquire a 67 per cent interest in the undeveloped York gas fields in the southern North Sea for £22m in cash.

has reached an agreement with
to acquire a 67 per cent interest in the undeveloped
gas fields in the s
for £22m in cash.
The acquisition adds to the 23 per cent of the development acquired as part of the Rough gas storage acquisition in 2003, and takes Centrica's interest in the fields to 90 per cent.
The
Sam Laidlaw, chief executive of Centrica, said: ‘This investment is in line with our strategic priority to reduce the group's exposure to movements in gas prices through securing additional upstream assets. It also increases the level of gas reserves to supply our British Gas customers and builds on our existing portfolio of producing and exploration prospects.
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