Chevron North Sea is currently in talks about offloading its 50% share in Britannia Operator Ltd.
A spokesman from the firm confirmed the oil major is having discussions with joint venture partner ConocoPhillips about transferring its half in the business.
The move wouldn’t affect its stake in the Britannia field.
A spokesman said: “As part of our on-going commitment to explore efficiency improvements, Chevron North Sea Ltd is working with ConocoPhillips, the 50/50 joint shareholder-owner in Britannia Operator Limited, to review the Britannia operating company model.
“The focus of the review is solely on whether the operating company should become a 100% ConocoPhillips owned entity or remain as a separate 50/50 jointly-owned entity between the two companies.
“That review is on-going and no decisions have been reached. Chevron’s 32.4% share in the Britannia field is not under review. Chevron continues to focus on safe and reliable operations.”
The Britannia platform is 130 miles North-east of Aberdeen and covers roughly 70 square miles of field.
It is jointly owned by Conoco and Chevron, through the creation of partner company Britannia Operator Ltd.
The Britannia field was discovered in the mid-1970s and was the first to be run by two oil companies together.
Earlier this week Shell revealed it had sold off its share in the Anasuria assets to Hibiscus and Ping Petroleum.
The decision came after the company revealed last year it planned to sell the assets as it focused on other projects.
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