The Car and Truck Fleet and Leasing Management Magazine

BP and BG Agree North Sea Asset Exchange

May 23, 2002

BP and BG Group announced May 16 that they have agreed the exchange of a package of UKCS assets, including interests in several producing fields and development prospects. According to BP, the deal adds some 8 million barrels of reserves in the mid-North Sea and helps to consolidate their portfolio and improve productivity in a core area. The deal is subject to the usual DTI and co-venturer approvals and completion is expected in the next few months.
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