BP is weighing a sale of its majority stake in the Constellation oilfield in the Gulf of Mexico, according to Bloomberg, citing people familiar with the matter. The sales price is $200 million.
A sale would form a small part of BP CEO Bernard Looney’s plan to divest $25 billion in assets by 2025 to cut debt and transform the company into a clean-energy organization.
BP owns 66.7 percent of the Constellation field, which produces about 10,000 barrels of oil a day.
BP is also in discussions about a sale of a 10 percent stake in a key gas field in Oman, Bloomberg News reported in June.
