en.Wedoany.com Reported - BP has held "advanced talks" to sell its UK North Sea assets to Ithaca Energy for $2.69 billion (approximately £2 billion). The asset sale plan is part of BP's strategic restructuring under new CEO Meg O'Neill. According to sources familiar with the matter, although BP's asset sale negotiations were unsuccessful, the company is still exploring other options and may seek to reach deals with other competitors.

Reports indicate that the North Sea assets involved in this sale plan include five major production hubs, such as the Clair oilfield, the largest on the UK Continental Shelf. BP has restructured into two business segments—upstream and downstream—and has cut billions of dollars from planned renewable energy projects. The company has committed to completing $20 billion in asset sales by 2027 while reducing debt and costs.

Bloomberg News reported last month that BP was weighing the sale of all or part of its UK North Sea operations. Ithaca Energy declined to comment on related inquiries, and BP did not immediately respond to requests for comment.

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