BP In Talks To Sell $12B Assets To Apache Corp -Paper

11th Jul 2010 11:23

LONDON (Dow Jones)--Oil major BP PLC (BP.LN) is in talks to sell up to $12 billion of assets to U.S. Apache Corp., including a big stake in Alaska's Prudhoe Bay, according to the Sunday Times. Apache approached BP with the plan a few weeks ago. Negotiations are underway over the structure of the agreement and what other assets will be included, the paper said without citing sources. BP is also in talks to sell its $9 billion stake in Pan American Energy. China's CNOOC and Argentina's Bridas are considering buying all or part of BP's stake, the paper said. -By London Energy Desk, Dow Jones Newswires +44 207 842 9262; [email protected] (END) Dow Jones Newswires July 11, 2010 06:23 ET (10:23 GMT)