BP has sold off a raft of mature oil assets in Egypt to Dragon Oil as part of the UK supermajor's $10 billion global divestments drive.
The subsidiary of Emirates National Oil Company is taking BP’s stake in the Gulf of Suez Petroleum Company (Gupco), which holds concessions in the Gulf of Suez.
Gupco comprises the MCA and LL87 concessions, including the East Shukheir, North October, South Belayim, South Ghara, South Gharib, West Morgan, North Ghara, North East Romadan, East Morgan, and East Tanka concessions.
