BP bidding on a package of Devon's assets: sources

A British Petroleum (BP) sign is seen at a petrol station in south London July 29, 2008.

NEW YORK/LONDON (Reuters) - BP Plc (BP.L) is bidding on a package of Devon Energy Inc (DVN.N) assets that the U.S. energy company put up for sale late last year, according to sources familiar with the matter.

The company is looking at Devon's position offshore Brazil, as well as Gulf of Mexico and Canadian assets, according to one source.

The Wall Street Journal reported on Wednesday that BP is the leading contender for the assets, which would be worth more than $5 billion. But another source told Reuters that there are around six other bidders who could be as well-positioned as the British oil major in bidding for the Devon assets.

The Journal said a deal could be announced in the next several days.

BP and Devon declined to comment.

Devon announced its asset sale program in November, saying it hoped to pull in as much as $7.5 billion for its international and Gulf of Mexico assets as it looks to focus on its onshore oil and gas fields in North America.

The company has already sold its interest in three deepwater development projects in the Gulf of Mexico for about $1.3 billion.

Aside from the assets BP is bidding for, the company is also selling its stake in the Azeri-Chirag-Gunashli oilfield off the coast of Azerbaijan and assets offshore China.

BP has said it is looking for oil exploration opportunities in Brazil, where some of the biggest finds in decades have been made in recent years.

"We continue to look to see whether we can find an opportunity to access," BP Chief Executive Tony Hayward said at a news conference last month.

Devon shares closed up $1 at $71.85 on the New York Stock Exchange on Wednesday.

(Reporting by Michael Erman; editing by Matthew Lewis and Andre Grenon)