Dave Devine PMP liked this
For 35 years I have worked in the North Sea, including the last 25 with BP. During that time I've seen our industry overcome oil price crashes, technical challenges and changing political landscapes. If there's one thing I've learned, it's never to underestimate the North Sea or the people who work here.
The proposed sale of BP's North Sea assets has understandably created uncertainty. For many, it's the end of an era. But I believe it should be seen as an exciting opportunity.
Any company acquiring these assets won't simply be buying oil and gas fields. They will be inheriting world-class infrastructure, well-maintained facilities and, most importantly in my opinion one of the most experienced and capable workforces anywhere in the global energy industry.
I've had the privilege of working alongside exceptional people at bp on some of the most technically challenging problems our industry can throw at us. Their professionalism, technical expertise, commitment to safety and ability to solve complex operational challenges are second to none. The knowledge built up over decades is an asset in its own right and something no balance sheet can truly measure.
BP should be immensely proud of the legacy it leaves behind. Through decades of investment, innovation and operational excellence, it has created a portfolio that remains highly attractive. These are not tired assets nearing the end of their usefulness; they are high-quality producing assets with significant remaining potential in the hands of an operator focused on maximising value from a mature basin.
History has shown that new ownership can breathe fresh life into mature assets. A company with a strategy centred on the North Sea can bring renewed investment, faster decision-making and a long-term commitment that extends field life, unlocks significant additional reserves across CNS/WoS and supports thousands of skilled jobs across the region.
With support from Government the North Sea can still be one of the world's most technically advanced offshore provinces. The expertise developed here will also play a vital role in the wider energy transition, from carbon capture to offshore renewables. Protecting these skills matters far beyond oil and gas.
As someone who has spent my entire career in this industry, I remain optimistic. The assets are strong, the workforce is exceptional and the opportunities are real. For the right buyer, this is a chance to invest in world-class infrastructure and world-class people.
This shouldn't be viewed as the end of the BP story in the North Sea. It should be seen as the beginning of a new chapter—one that builds on an incredible legacy and gives these outstanding assets and the people behind them every opportunity to thrive.