Deals
HitecVision Is Said in Advanced Talks to Buy Exxon U.K. Assets
- North Sea fields could fetch around $1 billion for oil major
- Sale builds on Exxon’s retreat from Europe to focus on U.S.
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HitecVision AS is emerging as the frontrunner to acquire Exxon Mobil Corp.’s oil assets in the U.K. North Sea, according to people familiar with the matter.
The private equity firm is in advanced talks with Exxon about a potential deal, the people said, asking not to be identified discussing confidential information. A sale could fetch around $1 billion for Exxon, though final terms of a transaction are still being negotiated, the people said.