BP and GDF Suez are separately seeking to divest their stakes in two gasfields in the North Sea, Financial Times reports. The U.K. oil group intends to offload its 27.5% interest in the Shearwater gas field for an estimated figure of nearly £184 million. The sale will help pay for the costs related to the Gulf of Mexico spill from the previous year.
GDF Suez has put its 10.4% ownership in West Franklin up for sale in the U.K. for an estimated £525 million. The French utility holds its stake through its shareholding in Elgin Franklin Oil & Gas, a joint venture with France’s Total.
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