Major international firms are reportedly getting ready to sell North Sea oil and gas assets worth more than £2.5billion in the near future.
The slight upturn in crude prices since January and the award of a tax break in the budget have not been enough to convince certain companies that operating the aging and costly North Sea basin can be made worth their while near term.
German utility giant Eon is expected to press ahead with the sale of its £1.3billion North Sea business following a board meeting next month.
It was reported in March that Eon had asked Bank of America Merrill Lynch to find buyers.
French oil major Total is thought to have hired Standard Chartered to help offload a £650million stake in its Laggan-Tormore project.
Meanwhile, L1 Energy has brought in Morgan Stanley to sell £770million worth of recently-acquired fields, media reports said.
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