BP wants to sell its 45.9% stake in the In Amenas gas complex

British oil and gas producer BP is seeking to sell its 45.9% stake in the In Amenas natural gas processing complex, located in the heart of the Sahara Desert. The company made the announcement late last week after failed talks with Russian giant Rosneft.

BP has plans to sell its stake in the complex at around $ 2 billion and has reportedly contacted a number of major oil and gas companies. An operation which is part of its strategy to get rid of $ 15 billion in assets before mid-2021. BP has already sold nearly $ 10 billion in oil and gas assets worldwide since the start of last year.

This operation comes a few years after the site was the target of a jihadist attack in 2013, which left 40 dead.

BP’s partners on the site are Norwegian Equinor (45.9%) and Sonatrach, the Algerian public oil company (8.2%). The plant produces the equivalent of 46,000 barrels of oil per day.


Source: Agence Ecofin



Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...