An oil and gas company that has issued a string of profit warnings in the past year is considering selling its largest operation in the North Sea for about £1 billion.
BG Group is understood to have appointed Rothschild to advise on a restructuring in a move that could result in the sale of its Armada, Everest and Lomond platforms.
The energy producer is in “disposal mode in the North Sea”, one market source said, as it tries to improve the performance of its portfolio. Two weeks ago it sold its near-63 per cent equity interest in the Central Area Transmission System gas pipeline in the North Sea for £562 million to Antin Infrastructure Partners. A sale of the three North Sea platforms could raise