Eni Wins UK Offshore Licence
Jan 27, 2021 9:10:am
Summary
by: Joe Murphy
Posted in:
Eni Wins UK Offshore Licence
Italy s Eni has secured a new production licence in the UK North Sea after successfully applying in the 32nd offshore licensing round, it said on January 26.
The P2511 licence is 340 km
2 in size, located 250 km off the UK coast in the northern North Sea in waters 100 to 130 m in depth. It is situated near the UK s maritime border with Norway, where Eni s Var Energi partnership with HitecVision is a major operator. Several significant discoveries have recently made been in the surrounding area, Eni said.
Picture: Getty Images OIL giant ExxonMobil looks set to sell the bulk of its North Sea assets to Norwegian financiers. The company confirmed it is in exclusive talks to sell its assets in the central and Northern North Sea off Scotland to the HitecVision private equity business. HitecVision said a deal could be signed in the current quarter. The proposed sale comes amid a shake-up in the North Sea that has been given fresh impetus by the fallout from the coronavirus crisis. A range of US majors have offloaded North Sea portfolios in recent years after deciding they could generate better returns on investment in areas such as the shale fields of their home country.
Weltweite Investitionen in Energiewende erreichen Rekordhoch - Sonnenseite - Ökologische Kommunikation mit Franz Alt sonnenseite.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sonnenseite.com Daily Mail and Mail on Sunday newspapers.
HitecVision and NEO Energy have entered into exclusive negotiations with ExxonMobil to purchase the company s upstream assets in the central and northern North Sea.
HitecVision and NEO Energy have revealed that they have entered into exclusive negotiations with ExxonMobil to purchase the company’s upstream assets in the central and northern North Sea.
If successful, the negotiations are expected to result in a signed sales agreement in the first quarter of this year, with an expected close later in 2021, HitecVision and NEO Energy noted.
ExxonMobil is responsible for approximately five percent of UK oil and gas production, according to its website. The company has an interest in around 40 producing offshore oil and gas fields in the North Sea, although many of these fields are operated by Shell U.K. Exploration and Production as part of a joint operation, ExxonMobil’s website shows.
Neo in Exclusive Talks for ExxonMobil UK Assets
Neo Energy, backed by Norwegian private equity group Hitecvision, is in exclusive negotiations to buy ExxonMobil s upstream operations in the central and northern UK North Sea, the company said on January 21.
Neo said that if successful, the talks will result in a sales agreement being signed in the first quarter, with the deal s closure expected later in the year.
ExxonMobil has been searching for a buyer for its UK business for over a year. The US major has shares in almost 40 oil and gas fields through its Esso Exploration & Production UK subsidiary. It sold its Norwegian assets in 2019 to Eni-owned Var Energi for $4.5bn and is seeking to exit the European upstream sector altogether within the next few years.