News listings

energy-pedia general news

Norway flagNorway

Europe / Caspian / CIS >>> Norway

Norway: Chevron becomes first oil major to exit Norway


11 Oct 2018

Photo - see caption

Chevron will become the first oil major to formally exit the Norwegian continental shelf (NCS) as it transfers its last stake in an exploration license, according to a government letter.

Oil majors, including Exxon Mobil, BP and Shell, have scaled down their presence in Norway by selling or merging their assets in the mature region to focus on new growth opportunities elsewhere.

Chevron is also seeking to sell assets in the British North Sea in order to focus on growing U.S. onshore shale production as well as the giant Tengiz field in Kazakhstan.

According to a letter from the Norwegian oil and energy ministry to Chevron dated Sept. 28. and obtained by Reuters, Chevron has agreed to transfer its 20-percent stake in an exploration license in the Arctic, called PL859, to Norway’s DNO.

The decision means that 'Chevron Norway shuts down its activities in Norway and leaves the NCS permanently', the ministry wrote.

Click here for full article

Source: Reuters





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current deals: 1659
Completed deals: 5011

Company Profiles

Current Company Profiles: 2603

Corporate Activity

Current Corporate Activity articles: 3124

Companies Looking

Current number of articles: 422

Company Sales

Current Company Sales articles:1275

Geostudies

Current Geostudies articles: 597

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

count geophysics
Bayphase
Lynx Information Systems
energy365
RSK Logo 149
SLR Consulting logo
Rose & Assocs 149
EP Consult Energies
Union Jack Oil 149
Government of South Australia
KL Publishing
OPC
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com