By the OGJ Online Staff
HOUSTON, Feb. 26�ATP Oil & Gas (UK) Ltd., a wholly owned subsidiary of Houston-based ATP Oil & Gas Co., has agreed to buy two properties in the UK North Sea from BP for an undisclosed amount.
ATP will acquire a 50% interest in the Venture field on Block 49/21a. The deal is subject to partner and UK Department of Trade and Industry approval. Conoco Inc. holds 50%.
The acquisition also includes BP's 100% interest in the Block 47/10 discovery area, which surrounds the 47/10-1 discovery made by BP in 1984. This transaction has been approved by the DTI, said ATP.
The properties are in less than 120 ft of water. Both are planned for development in 2002.
The company operates 53 of its 56 offshore wells. It owns 21 platforms and operates nine subsea wells in the Gulf of Mexico.
