ExxonMobil agrees sale of UK central and northern North Sea assets
This sale forms part of ExxonMobil’s previously announced divestment programme, and includes our interests in 14 producing fields operated mostly by Shell, including Penguins, Starling, Fram, the Gannet Cluster and Shearwater; as well as the Elgin Franklin fields operated by Total; and interests in the associated infrastructure. ExxonMobil’s share of production from these fields was approximately 38,000 oil-equivalent barrels per day in 2019.
We will retain our non-operated share in upstream assets in the southern North Sea, our share in the Shell Esso gas and liquids (SEGAL) infrastructure that supplies ethane to our Fife ethylene plant and some assets with ongoing decommissioning including the Brent field.
This sale impacts a number of employees based in Aberdeen, and we will continue our open dialogue with them in the coming weeks to outline what this means for them.
As always, our focus will be on employee well-being, safety and efficient operations.
The sale price is subject to closing adjustments, and has additional upside of approximately $300 million in contingent payments based on potential for increase in commodity prices. While this sale includes the majority of our UK North Sea assets, most of these fields are mature, and the corporation’s focus is on investments with higher long-term strategic value.
It is important to recognise that we continue to make major, long-term investments in the U.K., such as the £140 million upgrade at the Fife ethylene plant, and in the multi-million pound Southampton to London replacement pipeline project.
We have had a presence in the UK for 135 years, and our onshore presence remains strong, including natural gas sales, refining and chemical operations, and the marketing of fuels (through a network of more than 1,300 independently owned Esso-branded retail sites), lubricants and petrochemicals.
We are looking to the future too, most recently in our discussions with the Acorn Carbon Capture and Storage project at St. Fergus in Scotland.
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EAME ESG takes strategic approach to the COVID-19 responseOne year ago, and almost overnight, COVID-19 changed everything for everyone. For ExxonMobil, ensuring the wellbeing of employees whilst fulfilling its duty to society was a huge challenge. So at the beginning of 2020, in response, the company established several emergency support groups (ESG) including one for the EAME region. Newsline spoke to Rupert Bravery, emergency preparedness & response advisor to discover more…
Eddie volunteers as a vaccinator at Epsom RacecourseIn the race to meet Government COVID-19 vaccination targets, Esso Petroleum employee Eddie Fish has stepped up as a St. John Ambulance volunteer. Eddie spoke to Newsline about his experiences on the frontline, which began with a six-hour shift at the Epsom Racecourse COVID-19 vaccination centre in February.
Huge load travels 700 miles from Moerdijk to Mossmorran
A huge new piece of equipment, which will be installed as part of Fife Ethylene Plant’s £140m investment project has arrived on site.
The 170 tonne, 14 metre by 6 metre Regenerator, is a clever piece of engineering that heats and cools air from the plant’s gas turbine. It arrived during the early hours one Friday morning, after an epic 700-mile journey from the Netherlands, arriving by ship at Burntisland East Dock.