Under the transaction, considered to be the biggest in the US Gulf of Mexico, BP has sold its interests in three operated and two non-operated assets.
The company has entered into agreements since the beginning of 2010 to sell its oil and gas fields with a value of about $37bn.
BP group chief executive Bob Dudley said the company has gained from the sales of its non-strategic assets.
"In line with our strategy, we have concentrated our Gulf of Mexico business around our major operated and non-operated production hubs, each of which has significant future growth potential, together with our leading exploration position," Dudley added.
"This repositioning and simplification has allowed us to focus our capability and personnel on delivering long-term growth from our core assets in the Gulf."
The three BP operated assets are Marlin hub, Horn Mountain in which the company holds 100% interest each, and Holstein with 50%stake.
Ram Powell and Diana Hoover are the two non-operated assets in which BP owns 31% and 33.33% respectively.
