PARIS, July 2 - The TotalEnergies West of

Shetland offshore assets it agreed to sell to Prax Group last

year remain under the French oil major's ownership, it said on

Wednesday, so will not be subject to disposals resulting from

liquidation proceedings affecting the British company.

"The transaction to sell our West of Shetland asset to Prax

has not yet completed and as such we remain the operator of the

Shetland Gas Plant and related fields," TotalEnergies EP UK said

in its statement.

TotalEnergies had agreed to sell Prax a portfolio of mature

offshore fields producing about 7,500 barrels of oil equivalent

per day, plus exploration licences and a gas plant, in a deal

that would involve transferring employees to Prax.

Prax Group's parent company, State Oil, as well as Prax's

Lindsey refinery in Britain entered liquidation proceedings this

week, with an administrator saying that all financial options

were being considered. Those included a sale of Prax's upstream

business and retail operations in Britain and Europe, all of

which remain outside insolvency.

A spokesperson for the British oil and gas regulator, the

North Sea Transition Authority (NSTA) declined to comment on

whether the sale of the TotalEnergies assets to Prax could

proceed given the insolvency proceedings.

The NSTA referred Reuters to its rules on change of

ownership of oil and gas assets, which say the regulator

considers the financial and technical capability of potential

buyers to be critical when assessing transactions for approval.