BP will sell its interests in four mature deepwater oil and gas fields in the US Gulf of Mexico to Marubeni Oil and Gas for $650m.

BP recently acquired interests in the fields of Magnolia, Merganser, Nansen and Zia from Devon Energy earlier this year, as part of a wider acquisition of assets in the Gulf of Mexico, Brazil and Azerbaijan.

BP executive vice-president, Strategy and integration, Andy Hopwood said that when BP acquired Devon’s Gulf of Mexico assets it was clear that the four fields did not fit well with the rest of its business in the region.

“We therefore decided they would be of more value to another company,” he said.

The assets include a 25% stake in the ConocoPhillips-operated Magnolia oil and gas field in the Garden Banks area of the Central Gulf, and a 50% interest in the Anadarko Petroleum-operated Merganser gas field in the Atwater Valley area of the Central Gulf.

They also include a 50% interest in the Anadarko Petroleum-operated Nansen oil and gas field in the Western Gulf and a 65% operating interest in the Zia oil and gas field in the Mississippi Canyon area of the Central Gulf.

BP’s net production from these fields is about 15,000 barrels of oil per day.