BP sells GoM interests to Marubeni Oil and Gas

Offshore staff

LONDON -- BP has sold interests in four mature producing deepwater oil and gas fields in the US Gulf of Mexico to Marubeni Oil and Gas for $650 million.

The assets included in the agreement include:
• A 25% interest in the ConocoPhillips-operated Magnolia oil and gas field in the Garden Banks area of the Central Gulf
• A 50% interest in the Anadarko Petroleum-operated Merganser gas field in the Atwater Valley area of the Central Gulf
• A 50% interest in the Anadarko Petroleum-operated Nansen oil and gas field in the Western Gulf
• A 65% operating interest in the Zia oil and gas field in the Mississippi Canyon area of the Central Gulf.
BP's net production from these fields is approximately 15,000 boe/d.

10/25/2010