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BP to Sell Stakes in U.K. North Sea Asset for at Least $232 Million

Provided by Dow Jones Oct 13, 2025, 9:06:00 AM

By Adam Whittaker

BP provisionally agreed to sell its stake in the Culzean field in the North Sea to Serica Energy for $232 million in cash upfront.

Serica said Monday that it signed agreement to purchase BP's two stakes in the gas condensate field, which is operated by TotalEnergies.

The deal is subject to agreement from TotalEnergies and NEO NEXT, who as partners in the field have the option to acquire BP's stakes on the same terms as agreed with Serica.

Serica could be liable to make additional cash payments and said additional information will be released following the 30-day pre-emption period.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

October 13, 2025 05:06 ET (09:06 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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