BG Group is set to acquire all Newfield's Exploration interests in the UK North Sea for $486.4 million by year-end, subject to UK government approval.
Offshore staff
HOUSTON --BG Group is set to acquire all Newfield's Exploration interests in the UK North Sea for $486.4 million by year-end, subject to UK government approval.
The package includes Newfield's 85% operating interest in the producing Grove field and platform, an 80% stake in the undeveloped Seven Seas discovery, and around 200,000 net acres in the southern North Sea gas basin.
Newfield looks set to focus on domestic operations in North America and other projects in Malaysia and China.
