Marathon Oil no longer selling UK offshore assets

Marathon Oil is no longer looking to sell its UK offshore assets, it has been announced.

Marathon operates the Brae complex, and also has stakes in the East Brae and Braemar fields as well in the Foinaven project west of Shetland.

The company is putting more resources into its shale gas projects in the US.

However, Marathon said it had not received an acceptable offer for its UK interests, which went up for sale in December.

The company's UK base is located in Aberdeen.