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BP sells off several North Sea oil fields in £475m deal

69 BP workers will transfer to the fields' new owner Premier Oil under the deal.

BP said it was reshaping its North Sea portfolio.

BP has sold off several oil fields in the North Sea for £475m.

Premier Oil said it was buying five fields in the Andrew Area and the Shearwater site – both around 140 miles from Aberdeen.

It said it wanted to capture the 82m barrels of oil and equivalents thought to still be trapped under ground.

A total of 69 BP workers will transfer to Premier under the deal.

Ariel Flores, BP North Sea regional president, said: “BP has been reshaping its portfolio in the North Sea to focus on core growth areas.

“As a result of this focus, we have also now decided to divest our Andrew and Shearwater interests, believing them to be a better strategic fit for another owner.

“We are confident that Premier Oil, already a significant operator in the North Sea, is the right owner of these assets as they seek to maximise their value and extend their life.”



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