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BP offloads stake in North Sea field
Oil major BP this morning announced it was to sell its interest in a North Sea gas field to SSE for $288m (£177.8m) in cash.
Completion of the deal, to sell BP’s non-operated 50 per cent stake in the Sean gas field, is expected in the first half of next year. Sean is currently operated by Shell, and produces around 18,000 barrels of oil equivalent a day.
Trevor Garlick, regional president of BP North Sea, said this morning: “The divestment of BP’s interest in the non-core, non-operated Sean field is consistent with our strategy of focusing on high value assets with long term growth potential.”
Over the past two weeks BP has completed the sale of its stakes in a number of other fields.