Company News: BG to sell North Caspian PSA stake for $1.23 billion

BG International Ltd., a unit of UK-based BG Group, reported that it would divest itself of its interest in the North Caspian Sea production-sharing agreement project in two transactions totaling a combined $1.23 billion.CNOOC North Caspian Sea Ltd., a wholly owned subsidiary of CNOOC Ltd. of China, and Sinopec International Petroleum Exploration & Production Corp., a unit of China Petrochemical Corp. (Sinopec Group), said in separate statements earlier this month that they each would acquire from the BG subsidiary an 8.33% interest in the PSA project for $615 million each.In other recent company news:Calgary-based Talisman Energy Inc. expects to complete the sale of its 25% stake in a Su...

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