BP sells its interest in the CATS pipeline & infrastructure to Antin Infrastructure Partners
Antin Infrastructure Partners agreed to acquire BP's operated interest in CATS for US$486 million. This follows the private equity firm's acquisition of BG's 62.78% equity in June 2014, bringing its total interest in CATS to 99%. The Culzean and Jackdaw pre-FID projects are expected to contribute about 50% of its throughput by 2023. The CATS valuation is not directly dependent on the oil price. CATs has strong future cash flow potential, provided the pre-FID projects are sanctioned.