BP has launched a process to explore the potential sale of its UK North Sea business, including five producing hubs in the central North Sea and west of Shetland.
The portfolio comprises the Andrew and ETAP hubs in the central North Sea and Glen Lyon, Clair and Clair Ridge west of Shetland. Together, the operations produced approximately 117,000 barrels of oil equivalent per day in 2025 and employ around 1,100 people.
The proposed transaction would represent a major change in BP’s upstream portfolio following more than 60 years of exploration and production in the North Sea. The company drilled its first exploration well in the basin in 1965 and went on to participate in several of the UK Continental Shelf’s most important discoveries and developments.
Clair is the largest oil field on the UK Continental Shelf by oil in place and remains a significant resource with further development potential. Production from the wider Clair area is handled through the Clair and Clair Ridge facilities.
Glen Lyon serves the Schiehallion and Loyal fields west of Shetland, while the Andrew and ETAP hubs process production from several fields in the central North Sea.
BP chief executive Meg O’Neill said the North Sea remained integral to the UK’s energy system. However, as BP focuses its portfolio and directs investment towards its highest-value opportunities, the company believes the business could be better positioned under different ownership.
BP will continue to operate the assets safely and reliably during the sale process and maintain its commitments to customers, partners and other stakeholders. The announcement concerns a potential sale, and there is currently no certainty that the process will result in a completed transaction.
A disposal would significantly reduce BP’s direct upstream presence in its home market but would not constitute a complete exit from the UK. The company will retain its headquarters and other activities, including fuel retailing, aviation, trading and its interests in wider energy projects.
The sale process comes as North Sea operators reassess mature portfolios amid declining regional production, substantial decommissioning obligations and continuing uncertainty surrounding the UK’s fiscal and licensing regime.
Source: BP to market North Sea business
