BP sells GoM interests to Marubeni Oil and Gas

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.

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

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