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BP puts North Sea business up for sale as it reviews operations

The unit produced 117,000 barrels of oil equivalent per day in 2025, and BP said the sale could raise as much as £2bn.

Reported · Written up by our desk · Energy

BP has launched a formal process to sell its North Sea oil and gas business, a move that would end about 60 years of production in the region, the company said. BP described the decision as part of a review of its operations as it seeks to slim down the group, with its North Sea assets organized into five production hubs and employing about 1,100 people.

The company said it will market the business while remaining committed to operating it safely and reliably throughout the sale process. BP also said its North Sea operations generated 117,000 barrels of oil equivalent per day in 2025, a small portion of its total global output of 2.3 million barrels per day.

BP CEO Meg O'Neill, who took the helm in April, said the North Sea business will be better positioned as part of another company as BP directs capital toward what it sees as higher value opportunities. In comments carried by BBC Business, she said the business has “world-class people” and “resilient assets,” and BP is seeking an outcome that recognizes its value.

The potential sale could bring in up to £2bn, according to the BBC Business write-up. The report also notes that BP has about 13,960 people working in the UK and that its global headquarters will remain in the country.

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