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BP looking for buyer of UK assets

BP is looking to sell UK onshore oilfield and offshore gas fields as part of its continued asset disposal.

Wytch Farm

Wytch Farm onshore oilfield Image: PremierOil

The UK-based company is apparently talking to a number of potential buyers about the sale of a range of oil and gas operations. One of these is the Wytch Farm onshore oilfield in Dorset, Southern England, which BP claims is the largest of its kind in Western Europe.

In addition, BP is looking to sell-off its southern North Sea gas fields and their operational infrastructure.  The company's majority stakes are up for offer in all of these fields, most of which are at the later stage of their lives but are described by BP as "strong assets".

Although the total package price has not been revealed, the North Sea elements are believed to be valued at $1bn.

 

Tags: BP, Corporate News, Europe

Published 2nd March, 2011

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