Africa Oil & Gas: BP seeks stake in Cairn Energy Senegal assets

Cairn Energy is reported to be in talks with BP to sell a 30 percent stake in its deepwater SNE field offshore Senegal, which could be valued at around $600 million, banking sources and a Senegal oil ministry source said on Monday.

‘We are aware that BP wants to acquire a stake in Cairn Energy, but they are awaiting validation by the state (of Senegal),’ an adviser to Senegal’s oil minister, who declined to be named, told Reuters by telephone.(Source: Reuters)