US gives BP, Serica license to run Iran-owned North Sea field

TEHRAN, Oct. 09 (MNA) – The United States has given the British multinational oil and gas company BP and Serica Energy a new license to run a North Sea gas field partly owned by Iran in a rare exemption by US President Donald Trump’s administration.

According to Reuters, the waiver extension will allow Serica to complete the acquisition of BP’s stake in the Rhum, Bruce and Keith fields, as well as buying Total’s stakes in Bruce and Keith, Serica said in a statement.

BP stopped work on Rhum Gas Field in May as the company cited the reintroduction of US sanctions against Tehran as the reason for the suspension.

BP discovered the Rhum field in the 1970s. Production was suspended in the early 2000s, as the US and several European countries imposed sanctions on Iran for its nuclear program.

MR/PR

News Code 138519

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