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Project Insights

BP buys Conoco stake in UK North Sea oilfield

ConocoPhillips has completed the sale of a subsidiary that holds a 16.5% stake in the Clair oilfield in the UK North Sea to BP.
By Staff reporter 19 December 2018 Europe & Russia / Companies & Finance 0 33741

ConocoPhillips has completed the sale of a subsidiary that holds a 16.5% stake in the Clair oilfield in the UK North Sea to BP, which operates the field, ConocoPhillips said on Tuesday.

Conoco retains a 7.5% interest in the field.

Conoco also completed a simultaneous acquisition of BP’s 39.2% interest in the Greater Kuparuk Area in Alaska and a 38% interest in Kuparuk Transportation Co. for an undisclosed price.

Conoco’s share of Clair’s output amounted to 4 thousand barrels of oil equivalent...