Siccar Point losses widen as key Cambo and Rosebank decisions await

Siccar Point losses widen as key Cambo and Rosebank decisions await

Losses at Siccar Point Energy more than doubled in 2020 as the North Sea operator looks ahead to key decisions on its flagship Cambo field and the Equinor-operated Rosebank.

Siccar Point recorded pre-tax losses of £189m, compared to a £77m deficit in 2019, while revenues were slashed by more than a third from £159m to £101m as Covid-19 dented oil prices.

Reporting the results for the period ending Dec 31, Siccar Point said 2021 would be a “very important year” on a number of fronts.