BP PLC (BP) plans to sell its oil and gas production assets and
exploration licenses in Pakistan as part of a divestment process aimed at
raising $10 billion to cover the cost of the Gulf of Mexico oil spill, a
company spokesman said Tuesday.
Pakistan
is
not a core area for BP. Its assets there produced 173 million cubic feet of gas
a day in 2009, 2% of the company's total natural gas output.
All of BP's
Pakistan
oil
and gas production operations are based in the Sindh province. It also has significant
offshore acreage for hydrocarbon exploration.