Energean in Talks to Buy BP Egypt Assets
Gas producer Energean is in exclusive talks to purchase BP upstream oil and gas assets in Egypt in a deal valued at approximately one billion dollars. The transaction includes offshore West Nile Delta stakes and the Temsah concession.
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ENERGEAN PLC is in exclusive talks to acquire upstream oil and gas assets in Egypt from BP PLC in a transaction expected to raise about $1B. The potential divestment forms part of a wider strategy by BP to streamline operations and cut debt. The assets under discussion include offshore natural gas concessions in the eastern Mediterranean.
