Energy Voice | Report: Marathon Oil looks to North Sea exit

Marathon Oil is seeking an exit from the North Sea, according to a news report from Reuters.

The firm is aiming to sell off its assets in the sector, joining other US firms such as Chevron and ConocoPhillips.

According to a document seen by the news agency, the sale includes stakes in the BP-operated Foinaven fields west of Shetland and in the Brae complex north east of Aberdeen.

The sale is estimated to be worth up to £153.8million.

It comes as the firm seeks to focus investment on US shale.

Marathon holds a 40% stake in the Brae Alpha complex, as well as 28% and 47% respectively in Foinaven and Foinaven East.

Marathon has been asked for comment.

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