BP Relaunches Sale of Stakes in North Sea Assets

Journal of Petroleum Technology 

BP has relaunched the sale of its stakes in a number of North Sea oil fields, according to Reuters. The news agency reported that BP has called for interested parties to send in bids with no deadline. BP agreed 1 year ago to sell its interest in the fields in the Andrew area and in the Shearwater field to Premier Oil for a total of $625 million as part of its efforts to sell $25 billion in assets by 2025 to reduce debt and transition toward low-carbon energy. The companies later agreed to restructure the deal and BP lowered its cash value to $210 million because of Premier's financing problems. The transaction finally fell through after Premier was taken over by Chrysaor in October 2020.

Duplicate Docs Excel Report

None found

Similar Docs  Excel Report  more

None found