According to Rystad Energy’s latest assessment, supermajors of the oil and gas industry are looking forward to selling assets that could generate a total of $27.5 billion.
These companies are actively shedding mature assets on a large scale in a bid to finance higher-yielding investments elsewhere, with the benefit of favoring shareholders who are calling for stricter capital discipline.
Some highlights from Rystad Energy’s report says ExxonMobil plans to take off assets worth $15 billion by 2021 while focusing on developing oilfields in Guyana and the US Permian Basin, as well as Mozambique’s gas projects and US Gulf of Mexico.
Chevron intends to raise capital for projects such as Tengiz in Kazakhstan, Contract 3 in Thailand, and its US shale positions in the Permian Basin. The company is also considering the sale of assets in Nigeria worth $2 billion.
Also, BP is looking forward to offloading some of the US shale assets which are outside of its core areas to help fund BHP’s North America subsidiary.
Total is seeking to sell one-third of its stake in the giant Kashagan field in the Kazakh sector of the Caspian Sea. The company also has plans to divest assets worth $5 billion by 2021.
Furthermore, Shell plans to divest assets worth $10 billion by 2021 and is reportedly looking to exit the Abadi LNG project in Indonesia, which could generate between $1 billion and $1.6 billion for the supermajor.
ConocoPhillips placed its whole 234,000 acres asset in the emerging Austin Chalk play of Louisiana on the market, about a year and a half after it was first unveiled.