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.
Journal of Petroleum Technology
February, 2021
- Country:
- Europe
- Denmark > North Sea (0.81)
- Netherlands > North Sea (0.81)
- Norway > North Sea (0.81)
- United Kingdom > North Sea
- Central North Sea (0.32)
- Europe
- Oilfield Places:
- Europe
- Denmark > North Sea
- North Sea Basin (0.99)
- Netherlands > North Sea
- North Sea Basin (0.99)
- Norway > North Sea
- North Sea Basin (0.99)
- United Kingdom > North Sea
- Central North Sea
- Central Graben > Block 22/30b
- Shearwater Field > Fulmar Formation (0.99)
- Northern North Sea > South Viking Graben
- Block 16/27a > Andrew Field (0.97)
- Block 16/28 > Andrew Field (0.97)
- Central Graben > Block 22/30b
- North Sea > Northern North Sea
- South Viking Graben
- Block 16/27a > Andrew Field (0.97)
- Block 16/28 > Andrew Field (0.97)
- South Viking Graben
- North Sea Basin (0.99)
- Central North Sea
- Denmark > North Sea
- Europe