BP Reaps $1B In Sale Of North Sea Oil Fields To Abu Dhabi

Law360, New York (November 29, 2012, 4:01 PM EST) -- BP PLC will sell three North Sea oil fields to Abu Dhabi National Energy Co. for $1.06 billion, plus as much as $250 million in future payments depending on oil prices, the parties said Thursday.

The deal is the biggest single sale of North Sea assets in more than a year, since Apache Corp. paid $1.75 billion for Exxon Mobil Corp.'s North Sea subsidiary.

The sale includes BP’s interests in the Maclure, Harding and Devenick fields, for which it operates as an operator, as well as...
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