With the purchase, the growing, privately-held Chrysaor Holdings will expand its UK North Sea production to 185,000 BOE/D. The state-run offshore company has found a gas and condensate field that holds an estimated 250 million BOE. The latest example of the offshore sector's march toward automated wellbore construction will take shape later this year in the North Sea. Just 2 months after issuing more than a hundred licenses, the Oil and Gas Authority begins the process again for a whole new set of blocks. The company announced it would “initiate the process” of marketing its UK Central North Sea fields as part of a portfolio review.