BP divests North Sea assets

The British oil company divests assets in the North Sea to E&P firm Premier Oil as part of a larger sales plan.

Photo: Toby Melville/Reuters/Ritzau Scanpix

British oil company BP has sold assets in the North Sea to exploration and production firm Premier Oil for GBP 625 million.

Premier Oil is to finance the acquisition by issuing shares worth GBP 500 million.

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