Big Oil says it still loves the North Sea despite asset sales

London

EUROPE'S biggest energy companies have a message for the ageing UK North Sea oil industry: We may be selling assets, but that doesn't mean we're heading for the exit.

The North Sea will always be "one of the great basins", said BP CEO Bob Dudley. Royal Dutch Shell will keep investing in a place where it has "deep roots", said CEO Ben van Beurden. Total SA offered more than just words, with a US$7.45 billion deal that was a vote of confidence in the region last month.