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News Breaks | | | | September 13, 2012 | | 09:33 EDT |  | RDS.A, BP | BP to sell stake in Norwegian field to Shell for $240M
BP (BP) announced that it has agreed to sell its 18.36% non-operated interest in the Draugen field in the Norwegian Sea to AS Norske Shell (RDS.A) for $240M in cash. Net BP production from Draugen, which is operated by Shell, averages some 6,000 barrels per day. Completion of the deal is anticipated by the end of 2012, subject to regulatory approval. With today’s announcement, BP has now entered into agreements to sell assets with a value of around $33B since the beginning of 2010. BP expects to divest assets with a total value of $38B between 2010 and 2013, the company said. | |
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