Confirming media reports published in May, BP agreed to an asset swap to acquire additional interest in the UK North Sea’s Clair field from ConocoPhillips in exchange for some of its Alaskan holdings. Conoco will divest 16.5% WI in Clair, retaining 7.5% while boosting BP’s operated stake to 45.1% from 28.6%. In exchange, BP will give up its entire non-op 39.2% WI in the Conoco-operated Kuparuk oil field and satellite fields in Alaska along with an associated......
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