BP: two deals with ConocoPhillips
(CercleFinance.com) - BP has announced an agreement with ConocoPhillips to buy a 16.
5% interest in the Clair field, located west of the Shetland Islands in the UK.
The British oil and gas group is therefore increasing its stake in this field to 45.1%, which it operates.
In addition, it has reached another agreement with the US group to sell it its entire 39.2% interest in the Greater Kuparuk zone in Alaska, as well as its stake in Kuparuk Transportation Company.
The financial terms of these transactions were not specified, although should have a cash-neutral effect for both groups. Subject to regulatory approvals, they should be finalised in 2018.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5% interest in the Clair field, located west of the Shetland Islands in the UK.
The British oil and gas group is therefore increasing its stake in this field to 45.1%, which it operates.
In addition, it has reached another agreement with the US group to sell it its entire 39.2% interest in the Greater Kuparuk zone in Alaska, as well as its stake in Kuparuk Transportation Company.
The financial terms of these transactions were not specified, although should have a cash-neutral effect for both groups. Subject to regulatory approvals, they should be finalised in 2018.
Copyright (c) 2018 CercleFinance.com. All rights reserved.