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(From Lloyds List)
Byline: Danish group beats off bidders in $1.2bn North Sea gas field and pipeline deal, writes Martyn Wingrove
DANSK Olie og Naturgas (Dong) has acquired BP's 10.34% stake in the Ormen Lange gas field and 10.2% in the Langeled North Sea pipeline, beating off other bidders, including Britain's Centrica, in a $1.2bn deal.
Dong has taken these assets as part of its strategy to become a fully integrated oil and gas company and to offset declines in Danish offshore production.
BP sold its interest in Norway's largest gas field to focus its investments on operated assets, including the large Skarv project in the Norwegian Sea. …