Xom to Sell Norway Assets for $4B
09.09.2019 - NEWS

September 09, 2019 [KallanishEnergy] – U.S. giant ExxonMobil has agreed to the sale of its oil and gas assets in Norway for $4 billion, Reuters reported Thursday, citing three sources familiar with the matter.

 
Sweden’s Lundin Petroleum and Norway’s Equinor, Aker BP and Vår Energi were amongst the companies which held talks for a potential purchase. The company sold its operated assets two years ago, but said in June it was interested in selling the remaining shares in 20 fields.

Operated by Equinor

The portfolio is mostly operated by Norwegian firm Equinor and produces 150,000 barrels of oil-equivalent per day, Kallanish Energy understands.

The company recently announced a $15 billion divestment target, and it was reported last month to be considering exiting the UK North Sea as well. “As a matter of practice, we don’t comment on commercial discussions,” said a spokesperson for ExxonMobil.

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