BP sell stake in Sean gas field SSE $288 million

BP to sell stake in Sean gas field to SSE for $288 million

6:38 AM, 20th December 2012
BP to sell stake in Sean gas field to SSE for $288 million

LONDON, UK: BP announced that, as part of its decision to market its stakes in non-operated North Sea assets, it has agreed to sell its interest in the Sean gas field in the UK North Sea to SSE plc for $288 million in cash. The sale comprises BP’s non-operated 50 per cent stake in Sean. Completion of the deal is anticipated during the first half of 2013, subject to regulatory approval.

“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,” said  Trevor Garlick, Regional President, BP North Sea.

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