Exxon Mobil Corp. has hired investment bank Jefferies Financial Group Inc. as it considers options including a sale of its UK North Sea assets, according to people familiar with the matter.
Exploration firm Var Energi has announced the acquisition of ExxonMobil's Norwegian upstream assets for £3.6 billion.
Exxon Mobil is reportedly finalizing the sale of its Norwegian North Sea assets to a Norway firm backed by Italy's Eni and private equity funding for about $4 billion (£3.2bn), according to Reuters and Norwegian media.
Var Energi today hailed its success with the Goliat West appraisal well in the Barents Sea.
Var Energi officially launched in Stavanger yesterday following a merger between Point Resources and the Norwegian branch of Italian oil firm Eni.
Private equity start-ups are causing a stir in the North Sea, a new report said.
The Norwegian subsidiary of Italian energy firm Eni has taken over Point Resources and formed a company called Var Energi.