BP sells shares in North Sea gas field


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BP has sold shares in a gas field in the North Sea.
British oil and gas exploration and production company Serica bought 18% of the share in the Erksine Field located.
The field, which produced 3.3mmboe, has been closed since September 2014 for maintenance to improve its production.
Chevron is the operator, with a 50% share and BG and Serica have 32% and 18% respectively.
Tony Craven Walker, Serica Chairman said: “The Erskine field has shown that it is capable of producing up to 4,000boepd net to Serica but in 2014, only averaged around 1,100boepd as the result of poor infrastructure performance downstream (excluding the period of planned shutdown). Considerable work has been undertaken over the past eight months to radically overhaul facilities involving a substantial investment and a field shut-down.”