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BP BP Plc

38.60
-0.87 (-2.20%)
01 May 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
BP Plc NYSE:BP NYSE Depository Receipt
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  -0.87 -2.20% 38.60 39.66 38.73 39.59 12,084,952 00:34:07

BP to Sell North Sea Interests to Premier Oil for $625 Million

07/01/2020 8:01am

Dow Jones News


BP (NYSE:BP)
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   By Ian Walker 
 

BP PLC (BP.LN) said Tuesday that it is selling its interests in the Andrew area in the central U.K. North Sea and its nonoperating interest in the Shearwater field to Premier Oil PLC (PMO.LN) for $625 million.

The oil major said the sale is part of the company's planned $10 billion asset-divestment program, and its focus on core growth areas in the North Sea.

The sale is expected to complete by the end of the third quarter of this year, the company said.

BP operates the Andrew assets and has a 27.5% stake in the Royal Dutch Shell PLC (RDSA.LN)-operated Shearwater field.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

January 07, 2020 02:46 ET (07:46 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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