Centrica Buys Stake in Irish Sea Gas Field

A subsidiary of Britain's Centrica (CPYYY) has completed a deal to buy a 45 percent stake in the Doyle gas prospect in the East Irish Sea from oil and gas explorer Serica Energy.

As part of the agreement, Centrica's Hydrocarbon Resources Limited (HRL) will cover Serica's share of exploration costs of up to 11 million pounds.

HRL has also gained a 15-percent interest and the operatorship of an adjacent block licence, Serica Energy said in a statement.

The Doyle gas prospect is located near a number of existing Centrica gas fields, including the Rhyl field which started producing gas last year.

"In the event of a commercial discovery, Doyle is ideally placed for a fast-track development and early gas production," said Serica Chief Executive Tony Craven Walker.

Reporting by Karolin Schaps