Repsol Sinopec Resources UK Limited, an oil and gas exploration and production company operating in the North Sea, said this week that the company would be renamed Repsol Resources UK.
"On 28th April 2023 it was announced that a settlement and share purchase agreement had been reached between Repsol and Sinopec, whereby Repsol would acquire the remaining 49% share of Repsol Sinopec Resources UK Limited," the company said.
"It was agreed that at completion of the acquisition, Repsol would become the owner of 100% of Repsol Sinopec Resources UK Limited. The agreement was subject to certain conditions precedent, which were all satisfied by 9th October 2023," the company added.
The company will be called Repsol Resources UK Limited and will begin a transition into the Repsol organisation.
"We remain focused on the delivery of our corporate strategy and business plan. As always, we prioritize the safety of our operations and the health, safety and well-being of our people," the company said.