LONDON/ ABERDEEN, Scotland: Exxon Mobil has agreed to sell its Norwegian oil and gas assets for up to $4 billion, ending its production in a country where it started operations more than a century ago, three sources familiar with the matter said.
US oil major Exxon said in June it was looking to sell its Norwegian upstream portfolio, which comprises minority stakes in more than 20 fields, operated by local producer Equinor and Anglo-Dutch oil major Royal Dutch Shell.
Norwegian daily Dagens Naeringsliv reported after the Reuters report that the buyer was Var Energi, citing anonymous sources. The deal was due to be announced at the end of September, it added.
An Exxon spokeswoman said: “As a matter of practice, we don’t comment on commercial discussions.”
Var Energi also declined to comment when contacted. — Reuters
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