Spirit Energy, the E&P joint venture which combines Centrica plc’s E&P business with Bayerngas Norge AS, has begun trading as an independent oil and gas operator. 

Spirit Energy’s partner-operated Maria field has started production one year ahead of schedule and more than 20% cheaper than planned. Oil production began on December 16, whereas the original start-up was intended for the fourth quarter of 2018.

A Spirit Energy-owned oil field in the North Sea has been given a new lease of life following a £35million investment. Spirit will drill a new production well at Chestnut which aims to more than treble production and extend the life of the field which otherwise would have been shut in later this year.