BP buys stake in West of Shetland at the expense of Alaska

The British oil company now strengthens its presence in the oil and gas region West of Shetland and sells its stake in the northern US.

Photo: BP/PR

BP is now acting on its previous announcements that it still has high confidence in Northern Europe and the North Sea, and it is now increasing its investment in the Clair field in the region West of Shetland.

BP is acquiring a 16.5 percent stake of the Clair oil field from ConocoPhilips. BP thereby is getting a total share of 45.1 percent of Clair, whereas ConocoPhilips holds 7.5 percent, and the rest is distributed between other investors.

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