NEWS: BP is rumoured to be close to finalising a sale of its 28% stake in the Shearwater field to Tailwind Energy, a North Sea explorer headed by ex-CNOOC veteran Steve Edwards and financing to be obtained from shareholder Mercuria.
BP has previously agreed to sell the asset to Premier Oil in 2020 but that deal fell through as a result of the collapse on oil prices and COVID-19. Premier Oil had also agreed to buy BP's Andrew asset at the time.
BP is also divesting the Andrew asset and it is understood that is being sold to another party.
