OSLO, March 29 Exxon Mobil has agreed to
sell its operated upstream business in Norway to private equity
firm HitecVision and oil company Point Resources for an
undisclosed sum, it said on Wednesday.
The deal involves a transfer of about 300 staff and means
that the world's largest listed oil firm will no longer operate
producing fields on the Norwegian continental shelf.
Exxon Mobil retains stakes in more than 20 producing fields
operated by Statoil and Shell however,
including the Snorre oilfield and the major Ormen Lange gas
The fields sold had daily output of 54,000 barrels of oil
equivalents in 2016, while Exxon's remaining Norwegian stakes
yielded about 170,000 barrels per day, a company spokesman said.
Point Resources, which is majority owned by HitecVision,
will have output of about 60,000 barrels of oil equivalent
following the deal, which could grow to about 80,000 barrels in
2022, the company said in a separate statement.
(Reporting by Nerijus Adomaitis and Terje Solsvik, editing by