Energy and mining giant BHP Billiton is said to be considering an exit from its North Sea operations.
The British-Australian multinational is mulling a move to sell its interests in UK assets, including an operated stake in the Keith field and a share of the Bruce development, according to reports yesterday.
It has launched a strategic review of its business and is exploring its options, including the possible sale of assets, to focus on mining and other energy assets.
As well as its 31.83% interest in Keith and 16% non-operated share of Bruce, BHP also operates the five Liverpool Bay gas and oil fields in the Irish Sea and Point of Ayr onshore processing plant in north Wales.
Earlier this month, BHP sold a minority share in the Browse gas-export project off Western Australia for £1billion, while in recent months it has also agreed to sell its diamond business in northern Canada for more than £300million and a stake in a South African mineral-sand business for £1billion.
Analysts have said the sale of assets where BHP either does not have a controlling interest or where the business cannot be expanded significantly would help to support plans to spend about £13.5billion on its US shale oil and gas projects.
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