ExxonMobil: sells assets in the UK

(CercleFinance.com) - ExxonMobil today announces that it has signed an agreement with HitecVision, through its holding company NEO Energy, for the sale of most of the non-operated upstream assets in the central and northern North Sea of the UK.


The sale price of over 1 billion dollars is subject to closing adjustments and could be increased by approximately 300 million dollars through contingent payments, based on the prospect of higher commodity prices.

The agreement covers interests in 14 fields, where the group's share of production was approximately 38,000 barrels of oil equivalent per day in 2019. The transaction is expected to close by mid-2021, subject to regulatory and third party approvals.


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