* Siccar Point opens dataroom for Cambo field farm down
* Hopes to attract bids for entire portfolio
* PE-backed firm hold interests in major North Sea projects
By Ron Bousso and Shadia Nasralla
LONDON, July 5 (Reuters) - Private equity-backed oil and gasproducer Siccar Point is testing the waters for its potentialsale later this year, hoping to attract interest for its mostlyuntapped North Sea resources, industry and banking sources said.
Siccar Point has in recent days invited over a dozencompanies to review data on its Corona Ridge area in the west ofShetlands area with the aim of selling down part of its 70%stake in the Cambo field, according to sources close to theprocess.
The company however hopes that the interest in Cambo willdraw offers for its entire portfolio, which includes stakes in anumber of major North Sea projects at various stages ofdevelopment, the sources said.
The projects include stakes in the Mariner field which isoperated by Norway's Equinor and is expected to startproduction later this year as well as Rosebank, a large projectalso operated by Equinor.
Siccar Point, headed by Jonathan Roger, a former Centricaexecutive, and backed by private equity firm Blue Water Energyand Blackstone, is valued at over $2 billion, accordingto consultancy WoodMackenzie and one of the sources.
Any decision on a sale of Cambo or Siccar Point as a wholewill take place later this year, one of the sources said.
"A Cambo farm down might result in a broader transaction forthe company," one of the sources said.
Investment bank Rothschild and Lambert Energy Advisory arerunning the process for Siccar Point, according to the sources.
Siccar Point did not respond to a request for comment. Aspokeswoman for Blackstone declined to comment. Blue Water,Lambert and Rothschild were not immediately available.
Royal Dutch Shell last year acquired a 30% stake inthe Cambo field which Siccar Point aims to develop aftersuccessful well tests in August 2018.
The field holds around 500 billion cubic feet of natural gasavailable for development, according to the company's 2018financial statement.
Siccar Point is one of several new private equity-back oilcompanies in the North Sea. It emerged as a major playerfollowing the $1 billion acquisition of Austrian oil and gascompany OMV's UK business in November 2016.
Many of the companies, such as private-equity backedChrysaor and Neptune, are aiming for future stock marketfloatations, but uncertainty over the oil price outlook hasdampened investor appetite.
Siccar Point had near 479 million barrels of oil equivalentin discovered reserves by the end of 2018, the financialstatement said. Its output last year averaged 11,152 barrels ofoil equivalent per day and group profit was $161 million.
Last year it sought buyers for its 20% stake in Rosebank,but the sale process was put on hold after the field's operatorChevron sold its stake to Equinor.
(Reporting by Ron Bousso; editing by David Evans)
