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US-based oil major, ConocoPhillips has farmed out its UK oil and gas business to Chrysaor Holdings. In a $2.675 billion-deal, Chrysaor will gain ownership to three material assets including two new operated hubs in the UK Central North Sea, an interest in the Clair Field area in the West of Shetland, and Britannia and J‐Block. ConocoPhillips’ owned assets produced approx. 72,000 boepd last year.