BP sells some North Sea assets for $1.1 bn

BP today announced the sale of a package of North Sea assets to Abu Dhabi national oil firm TAQA for about $1.1 billion to help pay for the devastating 2010 US Gulf of Mexico oil spill.

"The assets included in the sale are BP's interests in the Maclure, Harding and Devenick fields and non-operated interests in the Brae complex of fields and the Braemar field," the company said.

Meanwhile, the US government has temporarily banned BP from new federal contracts over its "lack of business integrity" in the Deepwater Horizon oil spill in 2010, a move that the British company had earlier said could force it to rethink its entire US operations.

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