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Mercuria-backed Tailwind buys BP stake in Shearwater UK oilfield

Reuters
Updated ·1-min read

LONDON (Reuters) -Tailwind, a private oil producer backed by commodity trader Mercuria, has agreed to buy BP's 27.5% stake in the Shearwater oilfield in the British North Sea, it said on Monday.

BP had previously agreed to sell the stake in Shearwater, as well as the stake in the BP-operated Andrews field, to Premier Oil, but the deal fell through when Chrysaor bought Premier Oil to form Harbour Energy last year.

BP confirmed the sale of its Shearwater stake for an undisclosed sum.

The London-based company also said it had informed staff at the Andrews field that it will continue operating the field for now, meaning it will effectively stop attempts to sell it.

(Reporting by Shadia Nasralla and Ron Bousso; editing by David Evans)