April 22 (Reuters) - British oil and gas major BP Plc said on Tuesday it sold its interests in four oilfields on theAlaska North Slope for an undisclosed sum to privately held oiland gas producer Hilcorp.
BP, which is one of the largest oil producers in Alaska,said the sale included BP's interests in the Endicott andNorthstar oilfields and a 50 percent interest in each of theLiberty and the Milne Point fields. It also included BP'sinterests in the pipelines associated with the fields.
The company said the fields accounted for about 19,700barrels of oil equivalent a day, less than 15 percent of BP'stotal net production on the North Slope.
BP-operated oil fields account for two-thirds of all Alaskaproduction.
The company said it would focus on developing Prudhoe Bay, the largest oil field in North America, and pursue LNGopportunities in Alaska.
"This agreement will help build a more competitive andsustainable business for BP in Alaska," BP Upstream ChiefExecutive Lamar McKay said in a statement.
BP said the deal does not affect its position as operatorand co-owner of Prudhoe Bay nor its other interests in Alaska.
Hilcorp is expected to become the operator of Endicott,Northstar and Milne Point and their associated pipelines andinfrastructure.
BP said about 250 employees were associated with the assetsit was selling. It said the majority of those workers at orsupporting Milne Point, Endicott and Northstar were expected tobe offered positions with Hilcorp with no break in employment.
The sale, which is subject to regulatory approval, isexpected to be completed by the end of the year. (Reporting by Karen Rebelo in Bangalore)
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