London
British energy giant BP on Monday said it had sold a 20-percent stake in Oman’s block 61 gas field to Thailand’s state-controlled PTTEP for $2.6 billion.
BP, which like its peers has been hit hard as coronavirus lockdowns slash energy demand, will retain a 40-percent stake and continue to operate the block, it added in a statement.
“We are committed to BP’s business in Oman,” said BP chief executive Bernard Looney.
“This agreement allows us to remain at the heart of this world-class development while also making important progress in our global divestment programme.”
Under Looney, who took over the reins at BP a year ago as the pandemic began taking hold worldwide, the group is looking to raise $25 billion from asset sales by 2025.—AFP
