EnQuest is interested in acquiring BP’s U.K. North Sea oil and gas business, CEO Amjad Bseisu told CNBC on Thursday, after BP launched a sale process on July 31. A transaction would represent a major retreat from a basin where BP has operated for about 60 years. BP’s portfolio includes five production hubs—Andrew and ETAP in the central North Sea, plus Glen Lyon, Clair and Clair Ridge west of Shetland—and employs about 1,100 people, according to the company’s website. Bseisu said the U.K. imports about half of its energy, which has increased costs, and urged the government to support domestic oil and gas development. His comments followed EnQuest’s report of $54.6 million in adjusted pre-tax profit, $529.9 million in revenue and 9% production growth in the first half of the year. EnQuest has previously acquired North Sea assets from BP, including a 25% Magnus field stake in 2017, associated pipeline infrastructure and a 3% interest in the Sullom Voe processing terminal in Shetland.