Market Chatter: BP in Talks to Sell Some Oil and Gas Assets in Egypt to Energean

MT Newswires Live08-27 23:44

BP (BP) is in exclusive talks with Energean to sell some of its upstream oil and gas assets in Egypt, Reuters reported Thursday, citing two people involved in the process.

BP could raise about $1 billion from the deal, which includes its holding in the producing offshore West Nile Delta Assets, jointly owned with Harbour and its 50% contractor working stake in the Temsah concession in the eastern Mediterranean, the report said, citing the people.

The companies didn't immediately reply to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 42.01, Change: -0.49, Percent Change: -1.15

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