UK-based explorer Premier Oil PMO.L is mulling a $500 million bid for BP's BP.L gas production business in Pakistan, the Times newspaper said on Tuesday.
Citing people familiar with the talks, the newspaper said it is not certain whether Premier or Mubadala 1/8MUDEV.UL 3/8, the Abu Dhabi sovereign wealth fund which has also expressed an interest in the assets, will participate in the bidding next month.
BP's upstream assets in Pakistan comprise of a number of producing fields and exploration blocks in the Sindh.
The fields are worth $690 million, UBS analysts estimated in a research note in July.
Premier, which already has assets in Sindh, was not immediately reachable for comment.
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