Marathon Oil agreed to sell its Norway assets (Marathon Oil Norge)for USD 2.7 billion to Det norske oljeselskap. After all adjustments, Marathon Oil expects net proceeds of around USD 2.1 billion at closing. Transaction closing is expected in fourth-quarter 2014. Marathon Oil Norge’s assets include 136 million BOE of 2P reserves, 24 million BOE of 2C contingent resources, and around 80 million BOE best-estimate upside in discoveries.
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