LONDON, July 22 (Reuters) - German Utility RWE AG agreed to buy a 50 percent stake in the Breagh North Sea field from four oil and gas explorers in deals worth around $270 million, the sellers said on Wednesday.
Canada's Sterling Resources said RWE's oil unit RWE DEA would own 70 percent of the field after the transactions close, helping the utility meet its goal of reducing its reliance on volatile wholesale gas markets.
Sterling said it had sold a 15 percent interest in Breagh and interests in nearby assets to RWE for Canadian $105 million ($95.02 million).
London and Canada-listed Stratic Energy said it had sold a 10 percent stake for $61.75 million, Britain's Faroe Petroleum said it sold a 10 percent stake for $41.6 million, while Encore Oil said it sold a 15 percent stake for $69.8 million.
RWE and other European utilties have been buying up stakes in oil and gas fields in the North Sea and other parts of the world so they can meet more of their energy supply obligations.
(Editing by Elaine Hardcastle)