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Report: Exxon to exit Norway with $4B oil, gas asset sale

Oil major Exxon Mobil Corp. agreed to divest its Norwegian oil and gas assets for up to $4 billion, Reuters reported Sept. 5, citing three sources familiar with the matter. The article did not name the buyer.

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

The oil major holds non-operating stakes in more than 20 Norwegian oil and natural gas fields, including Snorre and Ormen Lange. The company said its total net production from its non-operated assets was around 170,000 barrels of oil equivalent per day in 2017. The assets were valued around $3 billion to $4 billion.