BP to Sell Fields to Perenco for as Much as $610 Million
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BP Plc said it agreed to sell its interests in the Wytch Farm, Wareham, Beacon, and Kimmeridge U.K. oil and gas fields to Perenco U.K. Ltd. for as much as $610 million as part of a plan to divest assets.
BP is selling assets to focus more on the North Sea and shore up its balance sheet after last year’s Gulf of Mexico oil spill. Today’s deal follows sales totaling around $25 billion.