Russian oil major TNK-BP Ltd.--jointly owned by BP PLC (BP) and a group of Russian businessmen--said Wednesday it would be interested in buying assets from its U.K. shareholder as a platform for international expansion.

As BP faces escalating costs from a Gulf of Mexico oil spill, the company has discussed selling some assets to its Russian joint venture, Maxim Barsky, deputy chief executive of the Russian oil producer said Wednesday.

BP plans to sell off $10 billion of non-core exploration and production assets this year to provide a cushion against future liabilities from the Gulf of Mexico spill.

Chief Executive Tony Hayward met BP's Russian partners in TNK-BP during his visit to Moscow earlier this week.

"(Acquisitions) have been discussed with BP, but they haven't put anything up for sale, as far as we know," said Barsky.

BP has lost about half of its market value since the Deepwater Horizon drilling rig exploded in the Gulf of Mexico in late April, unleashing what could prove to be the worst offshore oil spill in U.S. history.

While the cost of the accident could prove bigger than expected, analysts have speculated BP may be forced to sell off some assets and may even be subject to a takeover attempt.

The Russian oil major--created in 2003 by the merger of BP's Russian and Ukrainian assets, and those of several Russian conglomerates including Alfa Group--is eyeing BP downstream assets in Europe, offshore assets, as well as assets in areas, where Russia has strong political connections, Barsky said.

BP is mulling several options for asset sales, including its 60% stake in Argentine oil and gas producer Pan American Energy, and assets in Colombia and Venezuela , the Wall Street Journal reported last week.

BP declined to comment, but said it hasn't identified assets to sell yet.

TNK-BP accounts for around 25% of the U.K. oil producer's total output. CEO Hayward reassured Russian partners and officials earlier this week in Moscow that BP has no intention of divesting its Russian assets.

BP also holds a stake in state-controlled OAO Rosneft (ROSN.RS), Russia 's biggest oil producer.

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