BP Sells Gulf of Mexico Oil Fields for $560 Million

Crews on ships work on stopping the flow of oil at the source site of the Deepwater Horizon disaster on May 29, 2010 in the Gulf of Mexico near Venice, Louisiana. No solid figures exist for how much oil was spilled or how much damage it will ultimately do to the Gulf. (Win McNamee/Getty Images)

BP has sold four of its Gulf of Mexico oil fields to Japan’s Marubeni Oil and Gas for $650 million (€466 million), AP reports.

The oil company is selling assets to cover the costs of cleaning up the Deepwater Horizon oil spill, called “the worst environmental disaster in U.S. history,” by DailyFinance.com. The company has sold more than $11 billion worth of assets.

BP acquired the fields in March 2010 as part of a $7 billion deal with Devon Energy, AP reports.

The fields yielded about 15,000 barrels of oil equivalent per day, which “did not fit well with the rest of our business in the region,” BP said, in the DailyFinance report.