Australia: ExxonMobil Calls Off Sale of Gippsland Basin Fields

Monday, November 30, 2020

ExxonMobil has called off the potential multibillion-dollar sale of its oil and gas assets in Australia’s Bass Strait, according to the Australian Financial Review.

The decision by the U.S. oil major comes just six weeks after the deadline for indicative bids for the portfolio set by adviser JPMorgan.

“After completing an extensive market evaluation, ExxonMobil has decided to retain its operated Gippsland Basin producing assets in Australia,” a spokesman for ExxonMobil’s local affiliate Esso Australia was quoted by the AFR as saying.

He signaled that the sale process had not yielded attractive enough offers, the AFR reported.

An ExxonMobil spokesman was not immediately available for comment on Saturday.

Reporting by Swati Pandey; Editing by Tom Brown


Related:

BHP to Sell Stake in Exxon-led Bass Strait Joint Venture

Categories: Energy Industry News Activity Australia/NZ

Related Stories

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

CNOOC Finds Oil and Gas in South China Sea

EnQuest Acquires Harbour Energy’s Vietnamese Assets

Valeura Makes Progress with Multi-Well Drilling Campaign in Gulf of Thailand

Santos and QatarEnergy Agree Mid-Term LNG Supply

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Woodside to Shed Some Trinidad and Tobago Assets for $206M

Current News

Yinson, PTSC Get $600M Contract for Vietnam-Bound FSO

PTTEP Acquires Southeast Asia’s Offshore Block from Chevron’s Hess Unit for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com