Japan‘s Marubeni Company will own BP’s oil field assets in the Gulf of Mexico

To pay off obligations due the people of the Gulf Coast since the oil spill, BP has sold four of their oil fields in the Gulf of Mexico to Japan. The deal is expected to raise $650m.
The clean up of the oil and reimbursement payments to the fishing industry and businesses that lost money during the oil spill along the Gulf Coast has BP planning on selling assets up to $30bn to cover some of the costs.
Business interests in Vietnam and Venezuela should also bring in another $1.8bn when they are sold.
The four fields that BP has owned the assets in were purchased from Devon Energy .less than a year ago along with other assets includes fields in Gulf of Mexico, Brazil and Azerbaijan.
The four fields that BP acquired from Devon Energy that was located in the Gulf of Mexico didn’t fit well with the rest of our business in that area an executive with BP, Andy Hopwood, stated.
BP’s other interests in the Gulf of Mexico would not be affected by the sale. The completion of the sale is expected to be in early 2011 The Company will remain still the largest producer of oil and gas in the area as well as being the largest holder of leases
The explosion on April 20 killed 11 workers. The BP’s Deepwater Horizon rig
leaked an estimate 4.9 million barrels of oil into the gulf before the well was permanently sealed on September 19 ending one of the nation’s worst water disasters in history.
BP has paid out to date to the victims of the oil spill about $11.2 bn