BP has put its UK North Sea business up for sale, marking the end of more than 60 years of production. CEO Meg O’Neill said the North Sea remains integral to the UK’s energy system but that focusing capital on higher‑value opportunities would make the business better positioned under another owner.

Earlier this year BP held advanced talks with Ithaca Energy about a near 2bn deal, but no agreement was reached. The company currently operates five hubs in the North Sea, employs 1,100 people and produces just under 100,000 barrels of oil and gas a day.

The announcement comes after UK Prime Minister Andy Burnham pledged a “pragmatic” approach to drilling following a call with US President Donald Trump. Burnham said the resource cannot be ignored when people are struggling, echoing BP’s disciplined capital allocation.

BP will keep its global headquarters in the UK, a home for more than a century. The sale will see the company exit the basin.