Oman: BP sells Block 61 stake to Thailand’s PTTEP

BP has announced the $2.59bn sale of a 20% participating interest in the major non-conventional gas producing Block 61 to Thailand’s PTT Exploration and Production Public Company (PTTEP), as the UK major restructures its global strategy and portfolio. BP will remain the block’s operator, with a reduced 40% interest. The other Block 61 equity holders are national oil company OQ (with 30%) and Malaysia’s Petronas (10%).