Faroes Exploration Application, COP Mulls Norway Exit | Europe Scouting

So on the 1st of October, ConocoPhillips announced that they had been, that they're Evaluating a potential sale of its entire Norway business and also the Teesside terminal in the UK.

This is, they put this out because they have been, they've received an unsolicited offer for their assets.

So yeah, so they're just evaluating it and seeing whether or not they want to sell it.

Do we know how much that offer is? Like how many pounds or dollars or kroner?

Around 7 billion US is what the figures, I think, that I've seen.

Okay.

So it's quite a...

That's a number.

That's a big number.

Yeah, so...

So

unsolicited?

Unsolicited, yeah.

So they weren't...

They hadn't announced that they were looking to sell, but they have been carrying out a strategic review to optimize their portfolio.

So maybe they're checking that.

They're looking at this now in a different light.

So they weren't necessarily looking, I mean, they hadn't announced it on their own that they were looking to divest.

I think from the way that they worded the press release, it sounded like a surprise.

yeah yeah agreed um they don't i mean i was just going through reasons why they why they might well so so they turned around they said okay fine let's go test the market and see if see if we can get a better number um there probably is a time stamp on that unsolicited offer and conical phillips probably doesn't have you know a year to shop this thing around

yeah

they don't hate norway i mean they're they're like They're like in the DNA of the Norway story, ConocoPhillips are.

The whole offshore story, right? I mean, they were there.

Yeah,

well, Phillips was the first discovery in