BG Group today announced that it has completed the sale of a package of its North Sea assets to Perenco for $135 million. The agreement to sell was announced by BG on 24 April 2003.
The sale includes BG's interests in 11 non-operated fields - Indefatigable (Inde) and South West Inde, Bessemer, Bell, Baird, Beaufort, Brown, East Leman, Boyle, Davy and North Davy. It also includes BG's interests in the Inde and Leman joint facilities, as well as the site and onshore processing facilities at Bacton in North Norfolk.
The sale is effective from 1 January 2003.
The disposal formed part of BG's strategy to rationalise its UK portfolio, thus allowing it to concentrate on its core interests there.