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A&D - Exxon poised for Norway & GOM divestments totaling ~$5B - September 2019
Following the 2017 sale of ExxonMobil’s operated assets offshore Norway to privately held Point Resourcesfor $1 billion, the supermajor is reportedly in advanced negotiations with Point’s successor, Var Energi, for its larger non-operated Norwegian portfolio. Var was formed last year through Point’s merger with Italian producer ENI’s Norwegian subsidiary. Backed by North Sea-focused private equity firm HitecVision, Var is expected to pay $4.5 billion for the non-op assets, Norwegian newspaper Dagens Næringsliv reported. Reuters......
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