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Report: Exxon in talks to divest $1.5B worth of Gulf of Mexico oilfields

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Report: Exxon in talks to divest $1.5B worth of Gulf of Mexico oilfields

Exxon Mobil Corp. is in private talks with European oil majors to divest its oilfields located in the Gulf of Mexico worth $1.5 billion, Bloomberg News reported, citing people familiar with the matter.

Spain's Repsol SA and U.K.'s INEOS Group Holdings SA showed interest in acquiring Exxon's assets in the Gulf, which produce 50,000 barrels of oil per day.

In October, Exxon was reported to have been exploring potential buyers for these assets. Exxon's positions in the Gulf include a 50% stake in the Julia oil field and a 47% interest in the Hadrian South natural gas field, which it operates. In addition, it has a 9% interest in the Heidelberg field and holds a 23% share in the Lucius oil and gas field.

If a deal is reached among the concerned parties, it would allow Repsol to expand operations in the offshore region, while it would introduce Ineos to the Gulf as an oil and gas producer.