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Bharat Vasandani Madhavan N. & Hari... Urvish Dave

Market & Company Research Store > Details

Year: 2012

Contents: 5 pages

Country: Norway

Sector: Exploration and Production (Energy)
Exxon Mobil Swaps Interests with Total in Norwegian North Sea Assets – Deal Analysis from GlobalData

Summary

Exxon Mobil Corporation (Exxon) agreed to swap a 5.6% interest in the PL089 license, a 2.5% interest in the Sygna field, a 2.8% interest in the Statfjord Ost field, and a 6.18% interest in the Snorre field in the Norwegian North Sea with Total S.A. (Total) for a 4.7% interest in the Oseberg field, a 4.33% interest in the Oseberg transportation system, a 100% interest in the PL029c license, and a 30% interest PL029b license, also all situated in the Norwegian North Sea. Total will also provide Exxon with an undisclosed amount of cash. Following the transaction, Total’s interest in the Oseberg field will increase from 10% to 14.7% and in the Dagny field from 6.54% to 39.54%.

Scope

- Rationale behind Exxon Mobil swapping interests with Total in Norwegian North Sea assets.
- Portfolio rationalization by Exxon driving the deal.
- Geography Covered- Norwegian North Sea

Reasons to buy

- Develop a sound understanding of Exxon Mobil swapping interests with Total in Norwegian North Sea assets.
- To understand about Exxon's portfolio rationalization.
- To know about Total consolidating its position in the North Sea
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