Private equity-fund Seacrest Capital is in talks to sell its North Sea exploration and production firm, a news report said.
Banking and industry sources told Reuters that Seacrest had already received “unsolicited offers” for Azinor Catalyst.
A sale could generated up to £75 million for Seacrest, the report said.
Last year, Azinor enjoyed success with the Agar-Plantain well near the Beryl area, 200 miles north-east of Aberdeen.
The asset contains recoverable resources of 15-50 million barrels of oil equivalent (boe), based on preliminary analysis.
Azinor operated the well with a 25% working interest, Cairn Energy had 50% and Faroe had 25%.
Apache owns and operates the wider licence area, P1763, with a 50% share and Cairn Energy has 25%. Faroe and Azinor each have 12.5%.