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BP Sells North Sea Stakes to Mitsui for $280M

Tue, 06/26/2012 - 6:12am
the Associated Press

LONDON (AP) — Energy company BP PLC says it has agreed to sell its interests in two North Sea oil fields to Mitsui & Co. for $280 million.

BP said Tuesday that the sale includes a 13.3 percent stake in Alba and a near 9 percent stake in Britannia.

The announcement comes a day after BP said it sold some of its operations in Wyoming to LINN Energy for $1 billion.

BP says it has sold assets worth about $24 billion since 2010. The company has set a target of $38 billion in asset sales to help pay for the costs of the Gulf of Mexico well blowout and oil spill.

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