US supermajor ponders Dagny discovery exit

Dagny development: gas is set to be sent from the discovery to the Sleipner A platform

US PLAYER ExxonMobil is mulling over an exit from the Statoil-operated North Sea Dagny oil and gas development.

The supermajor is not satisfied with the economics of the project, and has opened a data room for potential buyers of its 33% interest, according to an industry source.

Dagny and the neighbouring Eirin discovery are likely to cost between Nkr25 billion ($4.2 billion) and Nkr30 billion to develop, Statoil estimated earlier this year.

Together the two deposits contain about 300 million barrels of oil equivalent. A spokeswoman for ExxonMobil declined to comment on how the company manages its asset portfolio.

Statoil and its partners earlier this year decided on a development concept using…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index