BP sells interest in North Sea gas field to SSE for $288 million
(Reuters) - Oil company BP Plc (BP.L) said it would sell its interest in the Sean gas field in the UK North Sea to British utility SSE Plc (SSE.L) for $288 million, as part of its strategy to sell its stakes in non-operated North Sea assets.
The sale of BP's non-operated 50 per cent stake in Sean will give SSE access to total net proven and probable reserves of about 1.7 billion therms over the life of the field.
SSE said in a statement that there was also a possibility of additional resource through infill drilling.
The total value of BP's assets sold in the North Sea now stands at about $3.1 billion, including its $1.3 billion deal with Abu Dhabi National Energy Co (TAQA) TAQA.AD last month.
(Reporting by Brenton Cordeiro in Bangalore; Editing by Roshni Menon)
- Tweet this
- Share this
- Digg this
- Boxer Sarita Devi faces action after refusing medal at Asian Games
- Hong Kong's embattled leader believes protests could last weeks-source
- Ebola outbreaks in Nigeria, Senegal, appear contained: CDC reports
- Exclusive - India set to run out of critical free drug for HIV/AIDS programme
- Sturridge won't be fit for England, says Rodgers