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BP sells interests in Alba and Britannia fields to Mitsui & Co.


Published Jun 27, 2012
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BP has agreed to sell its interests in the Alba and Britannia fields in the UK North Sea to Mitsui & Co., Ltd. (‘Mitsui’) for $280m in cash.

The sale comprises BP’s non-operating 13.3% stake in Alba and 8.97% stake in Britannia. Completion of the deal is anticipated by the end of Q3 2012, subject to regulatory and other licensee approvals.

The agreement is a further example of BP’s active management of its business portfolio in the North Sea, focusing on core activities and future growth.

Tags: BP PLC



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