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Report: Exxon signs exclusivity deal with Var Energi on possible sale in Norway

Exxon Mobil Corp. signed an exclusivity deal with Eni SpA subsidiary Vår Energi AS on a potential sale of the oil major's upstream assets in Norway, Reuters reported Sept. 6.

Exxon confirmed the talks to Reuters but added that a final agreement has yet to be signed. The report said the acquisition would make Vår Energi the second-largest producer in Norway.

Reuters reported that Exxon agreed to divest its Norwegian oil and gas assets for up to $4 billion. A report in early August said the oil major tapped investment bank Jefferies LLC to sell its stakes in Norwegian oil and gas fields.

Exxon signaled its intent to sell the assets to advance its $15 billion divestment plan, which it reiterated in March.