Updated from Sunday, July 11
is in talks to sell billions of dollars of assets to U.S. oil and gas company
, according to published media reports.
The deal under discussion could include stakes in BP's Alaska operations, according to a report on the
Wall Street Journal's
Web site that cited people familiar with the matter.
report said a possible deal could be as large as $10 billion, but a report in London's
, which did not cite a source, said it could be worth $12 billion.
Such an asset sale could help BP pay for the clean-up of its oil spill in the Gulf of Mexico.
The company Sunday said it was making progress
in its efforts to install a new containment cap over the leaking oil well.
BP and Apache declined to comment about the reported discussions, according to
The Wall Street Journal
BP also declined to comment on a separate report from The
was seeking clearance from the U.S. government to look into a takeover bid of BP.
Meanwhile, BP, in a statement on its Web site Monday, said the costs of responding to the oil spill in the Gulf of Mexico have risen to $3.5 billion.
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This article was written by a staff member of TheStreet.