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bp plans to buy shares of Beihai Oilfield from Japan's JX Nippon

 Last Update: 2021-12-04
 Source: Internet
 Author: User

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Sinochem News reported on November 5, according to EnergyVoice that, according to people familiar with the matter, BP is negotiating to acquire JX Nippon Exploration and Production's shares in the North Sea Andrews oil and gas field, which overturns the previous sale of its own shares.

The energy giant had previously tried to sell its stake in the project to Premier Oil, but the deal was cancelled after Chrysaor's reverse acquisition of Premier

Although it is uncertain whether bp will eventually purchase these shares, the acquisition will run counter to its approach to aging North Sea assets, which has been selling assets in the North Sea region for the past decade

A person familiar with the matter said that JX Nippon said in May that it was considering selling all of its British North Sea assets, and the company had also received tender offers for other assets

People familiar with the matter said this includes Mariner and Culzean shares in the latest large oil and gas fields in the region

The representative of the Japanese company stated that the company has not yet decided whether to sell its UK oil fields during the evaluation of its global investment portfolio

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