Updates with details, adds background

By Stephanie Kelly

LONDON, July 15 (Reuters) - BP BP.L has reached an agreement to sell minority interests in more than 10 companies in its ventures arm portfolio to investment firm Verdane, it said on Wednesday.

CEO Meg O'Neill, who started in the top job in April, said earlier this month that BP needs to prioritise financial discipline by simplifying its portfolio, cutting costs and tightening capital spending, as the company refocuses on its core oil and gas investments.

BP will retain interests in a small number of investments, it said. It did not disclose the price of the sale.

The British major's venturing arm BP Ventures, which began in 2007, had 27 companies in its portfolio, its website showed ahead of the announcement. These included projects related to artificial intelligence, electric vehicles and hydrogen.

BP had an ill-fated foray into renewables before announcing a strategy reset last year.

The company is embarking on a $20 billion divestment plan aimed at cutting debt and boosting returns.