Exploration & Production

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At our 2019?Interim Results, we announced our intention to exit oil and gas production by the end of 2020.?

Spirit Energy

In 2017, we launched Spirit Energy as a joint venture with German energy and infrastructure firm Stadtwerke München (SWM).

This new exploration and production (E&P) company was the result of a combination of our E&P business and Bayerngas Norge AS, which was formerly majority-owned by SWM.

By combining the cash-generating production assets of our portfolio with?Bayerngas?Norge’s developments, Spirit Energy is?becoming?a strong and sustainable European E&P company.?

The joint venture completed the first phase of our planned portfolio transformation, enabling us to pursue delivery of longer-term returns and growth with a greater focus on our customer-facing businesses.

Centrica plc owns 69% of Spirit Energy and Bayerngas Norge’s former shareholders, led by SWM and Bayerngas GmbH owns 31%.

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With the creation of Spirit Energy we completed the first phase of our portfolio transformation enabling us to reallocate resources towards our customer-facing businesses.

Centrica Storage

Centrica Storage Limited?(CSL) safely produces and processes gas from the Rough gas field in the southern North Sea on behalf of Centrica plc.

We have two offshore installation hubs where 30 wells have been drilled.

Gas is extracted offshore and sent via a pipeline to the Easington gas terminal where it undergoes several separation processes before being sent into the National Transmission System (NTS).

CSL employs around 350 staff and contractors, both onshore and offshore.

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