Exxon hires Jefferies to sell $4 billion Norwegian assets

ExxonMobil

Global oil and gas giant, ExxonMobil Corporation has just hired investment banking major, Jefferies to sell some Norwegian assets.

According to Reuters, the oil and gas fields off the Norwegian coast could fetch the energy giants up to $4 billion.

Reuters claimed in its report that interested parties are expected to receive a presentation of the available assets later in August, one of the sources said.

However, Exxon and Jefferies declined to comment.

A number of private equity-backed firms, including Okea, and independent oil companies Aker BP and DNO, have said they were looking to buy more assets on the Norwegian continental shelf.

Reuters reported that Var Energi, jointly owned by Italy’s Eni and Norwegian private equity fund HitecVision, is likely to show an interest, having previously bought Norwegian assets from Exxon in 2017, a second source said.