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Devon Energy and BP Enter Into $7.0B Property Sales Agreement and Oil Sands Joint Venture

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Devon Energy Corporation has entered into agreements to sell all of its assets in the deepwater Gulf of Mexico, Brazil and Azerbaijan to BP for $7.0 Devon and BP will also form a heavy oil joint venture to develop BP’s Kirby oil sands leases in Alberta, Canada. billion in cash. BP group chief executive Tony Hayward.

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BP starts up Na Kika Phase 3 in ultra-deepwater Gulf Of Mexico

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BP announced the start-up of Na Kika Phase 3, a project supporting BP’s strategy of growing high-margin production at four BP-operated hubs in the ultra-deepwater Gulf of Mexico. The first Na Kika Phase 3 well began oil production on 19 February, with a second well expected to start up in the second quarter.

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