British energy giant BP has placed its UK North Sea business up for sale, marking a potential end to more than six decades of production in the region.
The announcement came on July 31, 2026, as part of a broader strategy to divest assets and focus on higher-value opportunities.
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BP's North Sea infrastructure includes five key production hubs: two in the central North Sea and three west of Shetland.
In 2025, these assets produced 117,000 barrels of oil equivalent per day.
Around 1,100 employees work directly for this division, out of BP's total UK workforce of approximately 13,960.
The portfolio up for sale includes the Jackdaw gasfield east of Aberdeen and the Rosebank oilfield west of Shetland.
Consultations on these fields are scheduled to conclude on August 10 and August 17, respectively.
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Chief Executive Meg O'Neill explained the corporate restructuring and financial motivations behind the divestment.
"The North Sea remains integral to the UK's energy system," O'Neill said.
She noted that capital would be redirected to projects with higher returns.
"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," O'Neill said.
She expressed confidence in the assets and workforce.
"It has world-class people, resilient assets and a proud heritage, and it is precisely these qualities that can attract an owner ready to back its next chapter," she said.
