British oil major BP Plc (BP.L) said it would sell its 34.3 percent stake in the Yacheng gas field in the South China Sea to Kuwait Foreign Petroleum Exploration Company (KUFPEC) for $308 million in cash.
"This sale is part of BP's ongoing global portfolio optimisation," BP China President Chen Liming said.
The sale takes BP's total divestments announced since 2010 to $37.8 billion.
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