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BP sells UK North Sea field

Oil major BP has divested one of its older North Sea fields. However, the company maintains its interest in the UK shelf.

Photo: BP/PR

Oil and gas company Serica Energy will take over BP's activities related to  the UK North Sea field Bruce, as BP has entered a sales deal with Serica for the field.

Serica will pay GBP 12.8 million for the field, which includes a share of earnings from the field over the next four years, as compensation for BP's decommissioning costs and several payments dependent on the field's future performance and the level of the oil price.

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