Thursday, 9th February, 2023
Thursday, 9th February, 2023

Exxon to sell down North Sea assets

Exxon Mobil Corp. has agreed to sell parts of the North Sea for more than $ 1 billion as it focuses on new and larger oil and gas sources, such as the Permian Basin in Guyana, Brazil and the United States.

The agency said in a statement on Wednesday that the company would sell most of its operating flow assets in the UK’s Central and North Sea to Energy. Naio is an oil producer supported by the Norwegian private equity firm Hetekvision AS. Bloomberg reported the first talks in December.

Shakespeare, Guyana and the S&P 500 index of the United States are the third largest financiers in the United States, so Exxon has set 15 billion in asset sales. The latest major split by Exxon was the লার 4.5 billion sales of its Norwegian operations in 2019.

The recession driven by the epidemic in electricity demand forced Exxon to continuously reduce aggressive costs as its debt burden increased, and the company suffered its first annual loss in at least four decades.

Neil Chapman, Exxon’s senior vice president, said in a statement: “We are a low-tech resource and have continued to upgrade our portfolio by focusing our investment on our privileged projects among the best in the industry.”

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