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BP weighs divestment of oil fields in the North Sea

According to internal sources, BP has contacted potential buyers for its oil and gas fields in the North Sea, reports the Wall Street Journal. Asset managers are allegedly in the picture.

Photo: Aker BP ASA, Pressefoto

BP has, according to internal sources, contacted potential buyers for its oil and gas fields in the North Sea, which currently produce the equivalent of 150,000 barrels per day, reports the Wall Street Journal.

BP maintains that the company will still be committed to the North Sea and increase production, but is supposedly considering a divestment to an asset manager. Equity funds have been active in the North Sea over recent years, where the funds acquire oil fields with the intention of lowering costs and making them profitable.

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