Oil major BP doubles stake in North Sea gas field

Oil major BP Plc said it doubled its stake in the Culzean gas field in the UK’s North Sea after buying an additional 16 per cent interest from partner JX Nippon.

Culzean, operated by Denmark’s A.P. Moeller-Maersk, is one of the largest gas fields discovered in the North Sea in more than a decade.

Production at the field is expected to start in 2019, BP said.

Terms of the deal were not disclosed.