French private oil company Perenco, UK independent Premier Oil and UK utility Centrica are seeking to sell their shares in a key southern North Sea pipeline system in another example of traditional owners looking to exit positions in midstream infrastructure.

The trio have hired US investment bank Jefferies as an adviser within the last month to market a combined 65% interest in the Esmond Transportation System (ETS), according to sources with knowledge of the process and documents seen by Upstream.