In this regard, it has made several deals so far, including the $4.5-billion upstream divestment in Norway. Notably, with the planned massive sell off, ExxonMobil is expected to exit the European upstream business. IRVING, Texas--(BUSINESS WIRE)--ExxonMobil signed an agreement today with Vår Energi AS for the sale of its non-operated upstream assets in Norway for $4.5 billion as part of its previously announced plans to divest approximately $15 billion in non-strategic assets by 2021. Exxon Mobil Corporation XOM intends to divest around billion of hydrocarbon assets through 2025 in order to focus on more profitable projects, per Reuters.
Offshore staff. Exxon Mobil Corp. plans to start gauging buyer interest in its U.K. and German upstream operations in the coming weeks as the oil major continues to … Notably, with the planned massive sell off, ExxonMobil is expected to exit the European upstream business. HOUSTON – W&T Offshore Inc. has completed the acquisition of ExxonMobil’s interests in and operatorship of oil and gas producing properties in the eastern Gulf of Mexico, offshore Alabama, and related onshore and offshore facilities and pipelines.. After considering customary closing adjustments and an effective date of Jan. 1, 2019, the company paid $167.6 million. ExxonMobil's Australia Bass Strait Assets Up for Sale Again - September 19, 2019 - … This sale is an important part of our divestment program, which is on track to meet our $15 billion target 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 approximately 150,000 oil-equivalent barrels per day in 2019. Its latest reported divestment program targets $15-billion asset sell off by 2021. Its latest reported divestment program targets $15-billion asset sell off by 2021. In this regard, it has made several deals so far, including the $4.5-billion upstream divestment in Norway. ExxonMobil (XOM) is likely to gain $3 billion from the Gippsland Basin hydrocarbon development divestment.
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