Reported 6 months ago
Shell and Exxon are reportedly close to finalizing a deal to sell their jointly-owned gas fields in the southern North Sea to Viaro Energy, a British producer, for around $500 million. This potential agreement signifies a continued trend of major oil and gas companies divesting from the aging North Sea basin to focus on more lucrative prospects, with Exxon completing its exit from the North Sea and Chevron also selling its remaining assets in the British North Sea. Viaro Energy, which acquired RockRose Energy in 2020, has been active in the region and operates around 30,000 barrels of oil equivalent per day across various fields. The deal is nearing completion, but there are no guarantees yet, with Shell, Exxon, and Viaro Energy declining to comment.
Source: YAHOO