The supermajor could stand to benefit from a Norway exit, should it choose to do so, although a "more radical change", which would include disposing of stakes in core projects in the region, might also be plausible, investment bank UBS said in a note.
The bank forecasts that the company will begin "tidying up" assets from its North Sea portfolio as it works towards disposing of $30 billion-worth of projects between 2016 and 2018.
According