bp has been reported to be exploring the sale of a 49% stake in its US oil and gas pipeline network in the Gulf of Mexico.
The potential divestment would help bp meet its targets to reduce debt and maintain its dividend, Reuters reported.
One of the largest producers of oil and natural gas in the US Gulf of Mexico, BP is expected to produce around 400,000 barrels of oil equivalent per day from the region by the middle of this decade.
It has five offshore platforms, with the fifth - Argos - commencing operations in April.
Among the pipelines in which bp holds stakes are the 161-mile Mars Oil Pipeline, the 89-mile Endymion Oil Pipeline and the 115-mile Cleopatra Gas Pipeline.
This would not be the first time that the oil and gas major is selling a stake in its US assets.
In 2021, it set up a venture for infrastructure transporting refined products in which investment firm Sixth Street Partners acquired a 49% stake.
bp mulls sale of its US oil and gas pipeline assets, reports
