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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.