With a number of non-core assets of BP (NYSE:BP) on the market to raise capital to pay for liabilities for the oil spill, it has garnered a lot of attention from companies around the world, including their own joint venture TNK-BP.
TNK-BP is a joint venture between a group of Russian billionaires and BP, which has shown interest in several of BP's assets, especially in Vietnam and Venezuela. Now they've expanded that interest to Algeria, where BP is the largest foreign investor in the country.
At this time TNK-BP is waiting for BP to be cleared by Algeria to transfer its assets to TNK-BP. At that time they said they'll take a closer look at the Algerian assets.
BP operates Salah Gas and Amenas, two gas fields, and has a stake in Rhourde El Baguel oil field. They also have significant exploration acreage in the country.
TNK-BP has a goal of having at least 50 percent of their production outside of Russia, according to interim CEO Mikhail Fridman.
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