ExxonMobil will sell most of its non-operated assets in the UK’s central and northern North Sea to private equity fund HitecVision for more than $1 billion, the U.S. supermajor said on Wednesday as it divests non-core assets to focus on its priority areas—the Permian, Guyana, Brazil, and LNG. Exxon will be selling to HitecVision’s NEO Energy ownership interests in 14 producing fields in the UK North Sea operated primarily by Shell, including Penguins, Starling, Fram, the Gannet Cluster, and Shearwater. The sale also includes Exxon’s interest in the Elgin Franklin fields operated by Total, and interests in the associated infrastructure. The share of the U.S. supermajor of production from these fields was around 38,000 oil-equivalent barrels per day in 2019. The sale price of more than $1 billion has an additional upside of some $300 million in contingent payments based on the potential for increase in commodity prices, Exxon […]