Offshore staff
IRVING, Texas – ExxonMobil has agreed to sell its non-operated upstream assets in Norway to Vår Energi AS for for $4.5 billion.
The company said this is part of its plans to divest about $15 billion in non-strategic assets by 2021.
The transaction includes ownership interests in more than 20 producing fields operated mostly by Equinor, including Grane, Snorre, Ormen Lange, Statfjord and Fram, with a combined production of about 150,000 boe/d in 2019.
The transaction is expected to close in 4Q 2019, subject to standard conditions precedent, including customary approvals from regulatory authorities. The majority of the ExxonMobil employees impacted by the sale will transfer to positions at Vår Energi.
The company said this is part of its plans to divest about $15 billion in non-strategic assets by 2021.
In 2017, the company sold its operated stakes in the Balder, Jotun, Ringhorne, and Ringhorne East fields to Point Resources.
09/26/2019
