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BHP Billiton sells 35% stake in Neptune Oilfield

 Last Update: 2021-06-29
 Source: Internet
 Author: User

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Sinochem News recently, Australia BHP Billiton announced that it has completed a transaction with EnVen Energy Venture Capital Co.
, Ltd.
to transfer its 35% stake in the Neptune Oilfield in the deep waters of the Gulf of Mexico
.

BHP Billiton stated that it will continue to operate the oil field as part of the transition agreement until the transfer of operating rights and ownership is approved by the regulator
.

After the transaction is approved, EnVen will own 65% of Neptune Oilfield, W&T Energy Co.

BHP Billiton also stated that the divestment will enable the company to further reshape its investment portfolio in accordance with its long-term strategy
.

The Gulf of Mexico is still the core area of BHP Billiton's future operations, and the company will continue to look for opportunities to further develop in this area

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