BP to sell deepwater fields to Marubeni
By Osamu Tsukimori and Risa Maeda |
October 26, 2010, Tuesday
|
Print Edition
Print Edition
BP agreed to sell four fields in the deepwater of the Gulf of Mexico to Japan's Marubeni Corp for US$650 million, as the oil major seeks to raise cash to pay for its oil spill in the region.
BP has committed to selling up to US$30 billion in non-core assets to pay for the cleanup of the worst-ever oil spill in the United States, and to compensate victims.
Last week, the company agreed to sell a package of oil and gas fields in Vietnam and Venezuela to its Russian joint venture TNK-BP for US$1.8 billion.
BP and Marubeni Corp said yesterday that Japan's fifth-largest trading house would buy BP's interests in the Magnolia, Merganser, Nansen and Zia fields, representing output of 15,000 barrels of oil equivalent per day of oil and gas.
The interests are part of a package of largely non-producing Gulf of Mexico assets, mainly focused on what is known as the Paleogene play, where the major Kaskida discovery was made, that BP agreed to buy from Devon Energy in March.
BP has committed to selling up to US$30 billion in non-core assets to pay for the cleanup of the worst-ever oil spill in the United States, and to compensate victims.
Last week, the company agreed to sell a package of oil and gas fields in Vietnam and Venezuela to its Russian joint venture TNK-BP for US$1.8 billion.
BP and Marubeni Corp said yesterday that Japan's fifth-largest trading house would buy BP's interests in the Magnolia, Merganser, Nansen and Zia fields, representing output of 15,000 barrels of oil equivalent per day of oil and gas.
The interests are part of a package of largely non-producing Gulf of Mexico assets, mainly focused on what is known as the Paleogene play, where the major Kaskida discovery was made, that BP agreed to buy from Devon Energy in March.
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