All data is delayed
Loading...
See More

BP sells stake in North Sea gas field

Dec 17 2012 02:04
AFP

London - British oil giant BP said on Monday that it had agreed to sell its 50% stake in a North Sea gas field to energy firm SSE as part of its divestment plans.

"BP announced today that... it has agreed to sell its interest in the Sean gas field in the UK North Sea to SSE plc for $288m in cash," it said in a statement, adding it will complete the deal in the first half of 2013.

Sean is a gas field in the southern North Sea and is operated by Anglo-Dutch rival Shell. BP's current net BP production from Sean is around 18,000 barrels of oil equivalent per day.

The latest disposal comes as BP seeks to sell $38bn worth of assets by the end of 2013 to help pay for cleaning up and for compensation after its the US Gulf oil spill disaster.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

bp

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Myths that funding and red tape are the two biggest challenges faced by emerging companies and entrepreneurs, have been debunked by a report.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Sarb’s possible intervention in the markets to stem the rand’s fall is:

Previous results · Suggest a vote

Loading...