BP to Sell Gulf of Suez Interests to Dragon Oil
June 03 2019 - 11:15AM
Dow Jones News
By Oliver Griffin
BP PLC (BP.LN) said Monday that it has agreed to sell its
interests in the Gulf of Suez, in Egypt, to Dragon Oil, a
subsidiary of Emirates National Oil Co.
The British oil-and-gas company didn't disclose the value of the
sale but said it forms part of its plan to divest more than $10
billion worth of assets over the next two years.
BP said the deal is subject to approval from Egypt's Ministry of
Petroleum and Mineral Resources and is expected to complete in the
second half of 2019.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
June 03, 2019 11:00 ET (15:00 GMT)
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