BP to Market For Sale Dutch E&P and Gas Infrastructure Business

BP has said it intends to market for sale its exploration and production (E&P) and gas infrastructure business in the Netherlands, comprising its onshore and offshore production assets and its Piek Gas Installatie (PGI) at Alkmaar.

The business will be offered as an ongoing, fully staffed operation and BP does not expect any redundancies as a result of the sale.

It is expected that the sale will be completed by the end of the year, subject to consultation with the Works Council.

BP's Dutch E&P/gas infrastructure business has a staff of around 120 employees and long term contractors. It operates assets both onshore and offshore in the Netherlands and had net gas production of around 1.8 million cubic metres a day (62 million cubic feet a day) in 2005.

This sale does not affect BP's other significant business activities in the Netherlands which comprise energy trading, refining and marketing of fuels and lubricants as well as a renewable energy business.

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Posted 11/05/06

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