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Exxon agreed to sell $ 4 billion in Norwegian oil business

2019-09-05T23:16:48.209Z

[London / Aberdeen, Scotland, UK 5th Reuters]-ExxonMobil <XOM.N> has agreed to sell Norwegian oil and gas assets for up to $ 4 billion. More than a century ago



[London / Aberdeen, Scotland, UK 5th Reuters]-ExxonMobil <XOM.N> has agreed to sell Norwegian oil and gas assets for up to $ 4 billion. Production in Norway will be discontinued more than a century ago. Three officials revealed to Reuters on the 5th.

In June this year, Exxon announced that it was considering selling all its interests in oil and gas fields off the coast of Norway. Exxon sold assets in the region in 2017, but it still maintains interests in about 20 gas and oil fields, including a business run by Norwegian energy giant Equinol. [nL4N23V0L2]

Exxon's stock price rose 1.7% following Reuters reports, reaching a high of the day.

According to industry officials, Exxon has been working for Equinol and the independent oil companies Aker <AKERBP.OL>, DNO <DNO.OL>, Randin Petroleum <LUPE.ST>, and a major oil company ENI <ENI.MI over the past few weeks. > We are in discussions with the company, such as Var Energi, in which we invest.

The Norwegian newspaper Dagens Naeringsliv, after Reuters coverage, reported sources that the buyer was Var Energi. According to the newspaper, it will be officially announced at the end of September.

Exxon spokesman said he would not comment on the sale of business. Var Energi did not respond to comments. No comments were received from Equinol, Landin or DNO.

A source said to Reuters last month that Exxon has signed a contract with Jefferys to sell the business.

Exxon announced that its offshore production in Norway in 2017 was approximately 170,000 barrels a day in crude oil equivalent.

In recent years, the company has been focusing on shale oil production in the United States, such as the Permian Basin, and development in Guyana, South America, where large-scale oil fields have been discovered one after another.

Source: asahi

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