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Energy Voice: ExxonMobil’s Norway exit could break records, Rystad says


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Energy Voice: ExxonMobil’s Norway exit could break records, Rystad says

Business

Category: Business and Investment News

US supermajor ExxonMobil could be looking to fetch as much as $3.1 billion through the sale of its Norwegian portfolio, according to Rystad Energy.

Rystad Energy partner Simon Sjøthun notes that a sale of this magnitude could be the largest private transaction ever recorded on the Norwegian Continental Shelf.

“The valuation implies that a combined divestment of the entire portfolio would put the transaction at the very top of pure Norwegian transactions since the SDFI spin off in 2001,” Sjøthun said, with reference to the divestment of 15% of the State’s Direct Financial Interest (SDFI) in Norwegian offshore licenses when then Statoil was partially privatized 18 years ago.

Read entire article HERE.

Source: Energy Voice

Published: June 7, 2019