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.
A spokesman for Marathon said: “Portfolio management is an ongoing and integral element of our successful business model as we continue to simplify and concentrate our portfolio to our highest return opportunities with a focus on our differentiated position in the U.S. resource plays.
“While we actively manage this aspect of our business, we don’t comment on specific assets or market rumours.”
Recommended for you
