In addition, the US major has also put up for grabs minority interests in its North Sea producing fields, developments and exploration/appraisal blocks.

Bids are due by 2 June. London-based Hannon Westwood Associates is handling the deal.

ConocoPhillips has a 31.7% stake in Banff and a potential buyer may be Canadian Natural Resources, which already holds a 55.9% interest and has made clear to investors recently that its wants to boost its holdings in North Sea core assets.

Acquisitive