The talks between Shell and BP about the acquisition of the British interest in a joint gas project in the North Sea have failed. Initiates reported this to the Reuters news agency during the negotiations.

It is about the importance of BP in the Shearwater project. BP owns 28 percent, just like Shell. ExxonMobil has the rest. In April, sources reported that Shell was in talks with BP to take over that stake, worth approximately $ 250 million. The negotiations are said to have failed in terms of valuation.

BP now continues to look for other buyers for the sake. Shearwater consists of two platforms and a field off the east coast of Scotland from which natural gas and condensate are extracted. Shell is the gas field operator and is working on expanding the project.