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BP to Sell its Interests in Oil and Gas Fields in UK to Perenco - BP Plans to Focus on Central and Northern North Sea, West of Shetland and Norway Assets
GlobalData, May 2011, Pages: 7
BP to Sell its Interests in Oil and Gas Fields in UK to Perenco - BP Plans to Focus on Central and Northern North Sea, West of Shetland and Norway Assets - Deal Analysis from GlobalData
Summary
BP p.l.c. (BP) agreed to sell its interests in the Wytch Farm, Wareham, Beacon and Kimmeridge fields, to Perenco UK Ltd. (Perenco) for a consideration of up to $610m in cash. The sale enables BP to focus on resources and investment on its diverse central North Sea, northern North Sea, West of Shetland and Norway assets. The transaction is expected to be completed by the end of 2011, subject to partner pre-emption rights and a number of third party and regulatory approvals.
Scope
- Rationale behind BP selling its interests in the Wytch Farm, Wareham, Beacon and Kimmeridge fields,
- Strategic Benefits for the companies involved,
- Geography covered -The UK
Reasons to buy
- Develop a sound understanding of the major M&A's, Partnerships, And Joint Ventures taking place in European industry,
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the UK's oil & gas market,
- Get a detailed analysis of a deal to enable you to take better decisions.
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