[ad_1]
BP PLC said on Monday that it would sell a 20% stake in Block 61 of Oman to PTT Exploration and Production Public Co. of Thailand for $ 2.6 billion.
The UK energy company said the deal is expected to end this year and that after completion it will remain the operator of the block, holding a 40% stake.
BP has said it is targeting a $ 25 billion divestment proceeds by 2025.
“We are engaged in BP’s business in Oman – this agreement allows us to remain at the heart of this world-class development while making significant progress in our global divestment program,” said Managing Director Bernard Looney.
Source link
