British energy exploration and production company enquest I’m interested in purchasing blood pressure‘s North Sea oil and gas interests, the company’s CEO Amjad Buseis told CNBC on Thursday.
BP announced on July 31 that it has begun the process of selling its UK North Sea operations.
Speaking on CNBC’s Squawk Box Europe, Boutheis said there remained “tremendous opportunities” in the UK’s oil and gas sector.
Asked directly whether Enquest, which operates primarily on the UK Continental Shelf, would be interested in BP’s assets in the region, Boutheis said “yes.”
“There are only a few companies left, so only a handful of companies are interested,” he said.
For BP, which has operated in the North Sea for nearly 60 years, the sale marks a significant withdrawal from the area.
Enquest.
According to BP’s website, the company’s North Sea portfolio consists of five production sites, two in the central North Sea (Andrew and ETAP) and three in the western Shetland Islands (Glen Lyon, Clare and Clare Ridge), employing around 1,100 people in total.
Mr Buseis said the UK currently imports around half of its energy, adding that increased reliance on imports was driving up costs. He called on the government to support the development of domestic oil and gas resources.
Buseis spoke after Enquest posted revenue of $529.9 million in the first half of this year, a 9% increase in production and an adjusted pre-tax profit of $54.6 million.
In 2017, BP sold a 25% stake in the Magnus field to Enquest, along with associated pipeline infrastructure and a 3% stake in the Slomvorg processing terminal in the Shetland Islands.
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