Citing several banking sources, Reuters reported that the move is a part of the company’s restructuring effort.

Bankers and industry sources said that the potential buyers were given access to data rooms of the company’s exploration and production assets prior to the official launch of the sale process in the next few weeks.

Bank of America Merrill Lynch is believed to be responsible for arranging the sale process, which excludes the company’s Russian assets.

E.on acknowledged that its North Sea exploration and production (E&P) business has been placed under strategic review, but refused to comment on the proposed sale.

A spokesman said: "The review is ongoing and will consider the future options for the business including, for example, a sale of the business."

In 2014, E&P unit made $1.23bn in earnings before interest, tax, depreciation and amortization (EBITDA), accounting to about 13% of the E.on’s total.

The utility owns 30% stake in the Njord field, a 28.1% in the Skarv field and 17.5% in the Hyme field, all located in Norway.

In the British North Sea, the company owns stakes in several producing fields as well as operates the Huntington, Babbage, Johnston, Hunter and Rita fields.

E.on also has 49% stake in the exploration license for the Rhourde Yacoub area in the Berkine basin, in Algeria.