BP puts its UK North Sea business up for sale

Decision to market assets comes after talks with Ithaca Energy

The top 3

  1. Top Producing Fields in the North Sea: The Clair oil field, located west of the Shetland Islands, is the largest in the North Sea and Europe, with estimated reserves of 8 billion barrels; other major fields include Ekofisk, Forties, Oseberg, and Gullfaks.
  2. Countries with Largest North Sea Oil Reserves: The Norwegian and British sectors hold the majority of the North Sea's large oil reserves, with Norway's sector alone estimated to contain 54% of the sea's oil reserves as of 2007.
  3. Peak Production Era of North Sea Oil: North Sea oil production reached its peak in 1999, with annual output of approximately 128 million tonnes, or about 6 million barrels per day.

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