ExxonMobil wants to sell out of the NCS
ExxonMobil Norwegian Continental Shelf Oil and Gas Standard Oil Sell-out Norway ExxonMobil wants to sell out of the NCS Norway Today
ExxonMobil wants to sell out of the NCS
First, the oil giant sold its own operated fields in Norway. Now the company will get rid of the rest.
This week, the employees of ExxonMobil Norway were informed that a process has been initiated to sell the company’s ownership interests on the Norwegian Continental Shelf (NCS). Relevant authorities are, supposedly, also informed.
Press contact in ExxonMobil, Terje Skauen, confirms to Dagens Næringsliv that the company is for sale.
“There is some interest in the licenses. ExxonMobil is, further, growing in other parts of the world, including Guyana, Papua New Guinea, Brazil and Mozambique. We are constantly working to rationalize the portfolio,” Skauen tells DN.
Det first oil discovery on the NCS
The ownership shares can be worth up to NOK 34 billion, according to DN.
ExxonMobil is the world’s largest independent oil company. It has been present on the Norwegian Continental Shelf ever since its inception. The very first oil discovery in Norway was made by the company in 1967. The Balder discovery was, however, small and was not developed until 1999.
In 2017, ExxonMobil sold its own operated fields on the Norwegian shelf to Hitecvision-owned Point Resources. The company later merged with Eni Norway and was named Vår Energi.
The rest of the company’s activities in Norway are thus up for sale.
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ExxonMobil is still big
Despite the fact that the company sold its own operated fields, it remains among the largest players on the Norwegian Continental Shelf. ExxonMobil traded for just over NOK 30 billion in Norway, last year alone.
Among other licenses, the company has ownership interests in fields such as Statfjord, Snorre, Åsgard and Sleipner. Grane was the most profitable field last year. It provided revenues of NOK 5.5 billion, the annual report of ExxonMobil for 2018 shows.
ExxonMobil – 125 years in Norway
© Sysla / #Norway Today
