Antin set to succeed BP as operator of UK North Sea CATS trunkline

Offshore staff

ABERDEEN, UK – BP has agreed to sell its operating interest in the Central Area Transmission System (CATS) gas trunkline system in the UK North Sea to Antin Infrastructure Partners in a deal valued at $486 million.

The sale will be as a fully operational business, with staff expected to transfer to the new employer.

Subject to the receipt of regulatory and other third-party approvals, BP aims to complete the transaction before the end of this year.

The sale does not impact BP’s rights to capacity in CATS.

04/23/2015

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...