BP to Sell Stake in Dubai Concession
The British Petroleum Company (BP), which has a 1/3 interest in the 3,078sq. km. onshore Dubai concession where the Margham field is located, intends tosell its share to Oryx Energy of the US for $1,310mn, according to a preliminarysale agreement signed in September. However the deal will not be finalized untilearly 1990 after it is approved by the Dubai Government. The remaining 2/3 ofthe concession is held by Arco Dubai...