The oil major begins marketing its assets as part of a wider portfolio review, following discussions with Ithaca Energy.
Jan-Rune Smenes Reite
BP Plc is starting a process to market its North Sea business for a potential sale. The move comes as part of a wider review of the oil major's portfolio.
The company is actively marketing its North Sea business for sale. This formal marketing process marks the next step.
The decision to formally market the assets follows talks with Ithaca Energy regarding the North Sea assets. These discussions preceded the current sales process.
BP's North Sea business includes five production hubs—Andrew, ETAP, Glen Lyon, Clair, and Clair Ridge—and employs approximately 1,100 people. The sector's 2025 production stands at around 117,000 barrels of oil equivalent per day, accounting for 5% of BP's global output, while UK Energy Secretary Miatta Fahnbulleh is reportedly in close contact with the company regarding its plans. Additionally, single sources claim BP aims to generate $20 billion from asset sales by 2027 to reduce debt, following previously unsuccessful £2 billion discussions with Ithaca Energy reported in June.
BP's North Sea business, which produces approximately 117,000 barrels of oil equivalent per day, includes five production hubs: Andrew, ETAP, Glen Lyon, Clair, and Clair Ridge. The division employs roughly 1,100 people and accounts for about 5% of the company's global oil and gas output. Additionally, UK Energy Secretary Miatta Fahnbulleh is reportedly in close contact with BP regarding its divestment plans.
BP's North Sea business consists of five production hubs, including the Andrew and ETAP hubs in the central North Sea and the Glen Lyon, Clair, and Clair Ridge facilities west of Shetland. The division employs approximately 1,100 people and, as of 2025, produced around 117,000 barrels of oil equivalent per day, representing about 5% of BP's global output. CEO Meg O'Neill stated that the business is 'better positioned as part of another company' while emphasizing that the North Sea remains 'integral to the UK's energy system.'
BP's North Sea business consists of five production hubs, specifically the Andrew and ETAP hubs in the central North Sea alongside the Glen Lyon, Clair, and Clair Ridge facilities west of Shetland. The division employs approximately 1,100 people and, as of 2025, produced around 117,000 barrels of oil equivalent per day, representing roughly 5% of the company's global output. CEO Meg O'Neill noted that the business is 'better positioned as part of another company' while emphasizing its continued importance to the UK's energy system.
BP's North Sea business operates five production hubs—Andrew and ETAP in the central North Sea, and Glen Lyon, Clair, and Clair Ridge west of Shetland—employing approximately 1,100 people. The unit produced around 117,000 barrels of oil equivalent per day in 2025, representing about 5% of BP's global output, while CEO Meg O'Neill noted the business remains integral to the UK's energy system.
BP's North Sea business includes five production hubs, specifically the Andrew and ETAP hubs in the central North Sea and the Glen Lyon, Clair, and Clair Ridge facilities west of Shetland. This business unit employs approximately 1,100 people and produced around 117,000 barrels of oil equivalent per day in 2025, representing about 5% of BP's global oil and gas output. CEO Meg O'Neill stated that the business will be 'better positioned as part of another company' while noting that the North Sea remains integral to the UK's energy system.
BP's North Sea business consists of five production hubs, including Andrew and ETAP in the central North Sea and Glen Lyon, Clair, and Clair Ridge west of Shetland, employing approximately 1,100 people. In 2025, this division produced around 117,000 barrels of oil equivalent per day, representing about 5% of BP's global output. UK Energy Secretary Miatta Fahnbulleh stated she is in close contact with BP, prioritizing the protection of workers and local communities during the sale process.
