Shell to buy BP's stake in Draugen oil field offshore Norway

Norske Shell agreed to buy BP PLC’s 18.36% nonoperated interest in Draugen oil field offshore Norway in the Norwegian North Sea for $240 million.

Shell operates Draugen. BP’s net production averages some 6,000 b/d of oil. The transaction, subject to regulatory approval, is expected to close by yearend.

With the Draugen announcement, BP has agreed to sell $33 billion in assets since Jan. 1, 2010. BP expects to divest $38 billion in assets during 2010-13.

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

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...