HOUSTON (Alliance News) - BP PLC and ConocoPhillips are in discussions for an asset swap deal that would see the UK energy major gain a greater foothold in a key project in the North Sea and the US explorer get Alaskan assets, the Bloomberg reported citing people familiar with the matter.
BP is considering taking Conoco's stake in the Clair field, in which BP already holds a 28.6% stake and is the operator, according to the financial news service. BP describes Clair as "the largest undeveloped hydrocarbon resource" in the UK
In exchange, Conoco is likely to take some of BP's assets in Alaska.
BP (BP.)
