ExxonMobil has agreed to sell its non-operated upstream assets in the UK central and northern North Sea to HitecVision's portfolio company NEO Energy for more than $1 billion, plus approximately $300 million in contingent payments. The deal includes ExxonMobil's interests in 14 producing fields with approximately 38,000 barrels of oil equivalent per day in production, and is expected to close by mid-2021. The sale aligns with ExxonMobil's portfolio high-grading strategy to focus capital on advantaged projects in Guyana, the U.S. Permian, Brazil, and LNG.
ExxonMobil Sells UK North Sea Upstream Assets to NEO Energy
Acquirer
NEO Energy
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Target
ExxonMobil's upstream assets in UK North Sea
2021
Year
🇬🇧 United Kingdom
Country
Asset Sale
Deal Type
Deal Value
Sector
Upstream
Industry
Oil and Gas
Date Added
Jun 29, 2026
Status
Announced
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