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  • BP to sell stakes in Bruce fields in North Sea
    Reuters22 days ago

    BP to sell stakes in Bruce fields in North Sea

    Serica said it would buy a 36 percent interest in Bruce, 34.83 percent in Keith and 50 percent in Rhum. BP currently operates the Bruce assets, which comprise the Bruce, Keith and Rhum fields and related infrastructure assets. Serica said it would pay BP an upfront payment of £12.8 million, a share of cash flows over the next four years, a consideration equivalent to 30 percent of BP’s post-tax decommissioning costs and several contingent payments dependent on future asset performance and product prices.

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