Exxon Mobil may sell assets in the North Sea – media

Exxon Mobil, an American company, is considering selling its assets in the North Sea off the coast of the UK after more than 50 years of work in the region.  This was reported by Reuters with reference to three sources in the industry, familiar with the relevant plans of the company.

Exxon decided to focus on shale oil production in the United States, as well as other new projects.

In recent weeks, the company has held negotiations with project operators in the North Sea to assess interest in assets whose sale can bring companies up to $2 billion.

The operator of most Exxon projects is a joint venture with Royal Dutch Shell (RDSa.L), Esso Exploration and Production UK, in which companies own 50% of the shares.  Shell and Exxon Mobil do not comment on the situation.

Reuters names potential buyers of Exxon assets companies such as Chrysaor or Neptune, which already operate in the North Sea.

Exxon produces about 80 thousand barrels of oil and 12.5 million cubic meters of gas per day in the North Sea off the coast of Great Britain, the company’s website says.

Source: unian.net

Tags: gas, contracts, oil, hydrocarbon production, EU, USA, gas production, foreign affairs

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