bp launches sale process for UK North Sea upstream business
(WO) — bp has launched a process to market its UK North Sea upstream business for a potential sale as the company continues to streamline its portfolio and focus capital on higher-value growth opportunities.
The business includes bp's interests in five offshore production hubs: Andrew and ETAP in the central North Sea, and Glen Lyon, Clair and Clair Ridge west of Shetland. The company said it will continue to operate the assets safely and reliably throughout the sale process.
"The UK has been our home for more than 100 years and will continue to play an important role in our future," said CEO Meg O'Neill. "The North Sea remains integral to the UK's energy system. However, as we focus our portfolio and direct capital to our highest-value opportunities, we believe our North Sea business will be better positioned as part of another company."
bp said the planned divestment is part of its ongoing portfolio review and reflects its strategy to simplify the business while improving long-term value. The company said it is seeking a buyer that recognizes the value of the North Sea portfolio, which includes established production hubs and an experienced workforce.
See also: Industry group urges UK action after bp launches North Sea sale process
The company emphasized that it remains committed to supporting customers, partners and employees throughout the process. In 2025, bp employed nearly 14,000 people in the UK, including approximately 1,100 in its North Sea business.
The announcement marks another step in bp's broader portfolio optimization strategy as the company continues to reshape its upstream business and reallocate capital across its global asset base.
