By Dean Seal
BP said it would sell its non-operated interest in the Bay du Nord project in Canada, giving sole ownership to project partner Equinor.
The energy company said Monday that the sale of its 37.2% stake in the project is part of a simplification of its portfolio. Financial terms of the sale weren't disclosed.
The project is located about 500 kilometers offshore Newfoundland and Labrador in the Flemish Pass Basin. BP said it still holds 100% interest in two exploration licenses offshore Newfoundland and Labrador.
The deal is subject to customary conditions and approvals.
Write to Dean Seal at dean.seal@wsj.com