Exxon Mobil Corp is selling its entire stake in the Terra Nova project off the eastern coast of Canada, according to data from Schlumberger’s oil and gas asset sale business.
The project, located about 217 miles (350 km) off Newfoundland and Labrador, produced about 5,000 barrels of oil per day in 2016.
Exxon is selling all of its 19 percent stake in the project and initial bids are due March 30, a document related to the sale said.
The Terra Nova project consists of a floating production, storage and offloading vessel to produce oil.
The project has pumped 400 million barrels of oil and consists of 30 wells that pumped about 31,000 barrels per day last year, the document said.
An Exxon representative was not immediately available to comment.
PetroCanada, Husky Oil Ltd and Murphy Oil Corp are other partners in the project.
Shares of Exxon rose about 0.5 percent to $79.21 in morning trading.
(Reporting by Ernest Scheyder Editing by Tom Brown)