Exxon Sells UK North Sea Oil, Gas Assets For Over $1 Billion

ExxonMobil will sell most of its non-operated assets in the UK’s central and northern North Sea to private equity fund HitecVision for more than $1 billion, the U.S. supermajor said on Wednesday as it divests non-core assets to focus on its priority areas—the Permian, Guyana, Brazil, and LNG. Exxon will be selling to HitecVision’s NEO Energy ownership interests in 14 producing fields in the UK North Sea operated primarily by Shell, including Penguins, Starling, Fram, the Gannet Cluster, and Shearwater. The sale also includes Exxon’s…