Nippon Mitsubishi Oil Corp. said Tuesday it has acquired operational rights in Britain's Brae oil and natural gas fields in the North Sea, and rights to use transportation facilities.
The company said it made the purchase Friday through its wholly owned British subsidiary, Nippon Oil and Production U.K. Ltd., from Burlington Resources Inc., an independent U.S. oil development company.
It now has rights to 8,000 barrels per day, the company said.
Oil and the gas equivalent of 130,000 barrels are produced in the Brae fields, located off the east coast of Scotland.
Nippon Mitsubishi Oil will profit not only from the production of gas and oil but from fees charged to other oil producers for use of the Brae Forties pipeline and the Scottish Area Gas Evacuation pipeline and gas terminal, the company said.