BP in talks to sell non-strategic Gulf of Mexico oil fields

Oil major BP is in advanced talks to sell a group of oilfields in the Gulf of Mexico to US outfit Plains Exploration&Production, said two people with knowledge of the matter, according to reports in The Wall Street Journal and Bloomberg.

By MoneyWeek

published 10 September 2012

in Features

According to one of those sources Plains is discussing a price of about $6bn and may reach an agreement within days.

The above is part of BP chief executive officer Bob Dudleys plan to sell $38bn in assets by the end of next year -including non-strategic ones in the Gulf of Mexico- following the accident at its Macondo well.