BP Exploration has participated in many disposal transactions over the last few years. This paper seeks to provide some insights into how BP manages the process from asset selection to closing the deal.

Disposals have evolved from a tactical activity designed to eliminate non-core assets to a business in its own right. Today, almost every E&P company includes "portfolio management" in its strategy as companies have recognised this activity can add value relative to holding the portfolio constant. This notion of disposals as a stand alone business provides an interesting framework for analysis and it is in this context that disposals are discussed.

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