Roc said apart from the price change, the terms of the gas sale contract with Innogy remains basically the same and as a result, preserves the company's ability to sell the non-contracted balance of its gas production to Innogy at the prevailing spot price.

"The new contract gas price emphasises just how much UK gas prices have strengthened since Saltfleetby came on stream almost two and half years ago," said Roc chief executive officer, Mr John Doran. "When the price increase kicks in it will go some considerable toward offsetting the revenue reduction from Roc's recently announced sale of its 12.5% interest in the Kyle Field."