BP has said it is putting its UK North Sea business up for sale after more than 60 years of production.The energy giant said the decision to market the business for a potential sale forms part of its strategy to slim down the group by selling off parts of the business.

The announcement comes after Prime Minister Andy Burnham left the door open for future North Sea drilling as he confirmed he told Donald Trump: “We can’t ignore” the resources there. He said he told the US president that he would “take a pragmatic approach when it comes to the North Sea”, adding: “There is a resource there. When people are struggling, we can’t ignore that.” Labour’s 2024 manifesto said the party would not issue new North Sea licences. BP’s North Sea business has five production hubs – two in the central North Sea and three west of Shetland – and produced 117,000 barrels of oil equivalent per day in 2025.

The company has operated in the North Sea for more than six decades, including the Clair oilfield, the largest on the UK continental shelf.

Some 1,100 staff work for the North Sea business, part of BP’s approximately 13,960-strong UK workforce.

Chief executive Meg O’Neill said she believed the North Sea business would be “better positioned as part of another company”.

“The North Sea remains integral to the UK’s energy system,” she said.

“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.

“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.

“We are seeking an outcome that recognises that value.”

The sale forms part of the company’s wider efforts to reduce debt, simplify its operations and focus investment on its most profitable oil and gas businesses after scaling back investment in renewable energy.

Since Ms O’Neill took over as chief executive in April, BP has reorganised the company into two business segments – upstream and downstream – replacing its previous three-division structure.

The changes took effect earlier this month.

Reuters also reported that an internal email seen by the news agency revealed BP is planning to cut a further 700 jobs across the wider company as part of its restructuring efforts.

BP has also scaled back investment in renewable energy as it seeks to simplify its operations, reduce debt, boost profits and refocus on its core oil and gas business.