British energy group BP said Tuesday it has agreed to sell assets including gas fields in the North Sea to Anglo-French peer Perenco for $400 million (300 million euros) in cash. The deal to sell southern gas assets (SGA) further helps BP to unlock billions of dollars to meet compensation costs linked to the 2010 Gulf of Mexico oil spill caused by a blast on the BP-leased Deepwater Horizon platform.
The assets include a number of manned and unmanned platforms off the coast of Yorkshire, northern England, and a terminal at Dimlington. "We are pleased to have reached this agreement" with Perenco, said Trevor Garlick, regional president for BP North Sea, in a company statement. Current net production from the SGA assets stands at about 25,000 barrels of oil equivalent per day. Last year, Perenco purchased BP's Wytch Farm oil field in Dorset, south-western England, along with three other neighbouring fields for $610 million.
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