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.

Originally posted on Fleet Financials