BP Plc.(BP.L) and BG Group announced that they have agreed to exchange a package of North Sea assets.
BP has agreed to acquire BG Group's interests in a number of Southern North Sea fields - the BP-operated Amethyst, Whittle and Wollaston fields and all of BG Group's interests in the Easington Catchment Area fields including Mercury, Neptune, Minerva, Apollo and Artemis.
BG Group has agreed to acquire BP's interests in three Central North Sea fields - the BP-operated Everest and Lomond fields, and the BG-operated Armada field.
BG Group has also agreed to acquire 32% of the Chevron-operated Erskine field from BP.
The respective equity interests have been agreed to be exchanged without any cash payment.
Upon completion of the deal, around 90 BP offshore staff currently working on the Everest and Lomond installations will transfer to BG.
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