BP (NYSE:BP) announced Tuesday plans to sell southern gas assets in the North Sea to Perenco U.K. for $400 million.
The
company already made a down payment of $100 million and plans to rest
of the balance on completion of the deal later in the year.
Trevor
Garlick, head of BP's North Sea unit said, "Perenco is committed to
investing in and developing southern gas assets beyond BP's plans,
ultimately providing a longer-term future for the assets and the people
who work there. Actively managing our portfolio allows us to
concentrate our people, capabilities and investment on sustaining BP's
business in the North Sea for the long term."
BP (NYSE:BP) has
potential upside of 16.9% based on a current price of $46.23 and an
average consensus analyst price target of $54.05.
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| BP.L |
16:35 BST |
471.35 |
 10.55 - 2.19% |
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