EnQuest Expresses Interest in Acquiring BP's North Sea Assets
EnQuest CEO Amjad Bseisu confirmed to CNBC that his company is interested in acquiring BP’s U.K. North Sea oil and gas business, which the energy giant has put up for sale since July. The potential transaction would mark a significant shift as BP exits its long-standing presence in the region after nearly 60 years of operations. BP's portfolio includes five key production hubs—Andrew and ETAP in the central North Sea, and Glen Lyon, Clair, and Clair Ridge west of Shetland—with around 1,100 employees. EnQuest has previously acquired BP assets before, such as a 25% stake in the Magnus field in 2017. Bseisu emphasized that there are only a few companies capable of acquiring these assets due to their scale and complexity. He also highlighted concerns about U.K. energy security, noting increased reliance on imports has driven up costs.
