BP PLC is mulling to exit part or all of its operations in the UK North Sea, Bloomberg reported Friday.
The London-based oil major is conducting an internal review of its upstream operations in the UK, which could fetch about GBP2 billion in a full divestment, people familiar with the matter said according to Bloomberg.
The company is currently working to strip assets and pay down debt and is targeting around USD20 billion in divestments by the end of 2027.
There is no certainty that BP will decide to pursue any divestment in the North Sea, as the review is ongoing.
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