Denmark’s Dong Energy has confirmed the appointment of J.P. Morgan as it reviews options regarding the future of its oil & gas business.
J.P. Morgan has been asked to conduct a preliminary market assessment about a possible divestment, although Dong stresses a decision has not been made as yet.
Speculation first started mounting about the sale when Dong revealed as part of its upcoming IPO that it wanted to build in the areas of offshore wind, bioenergy and green distribution and customer solutions.
In July, Dong divested its ownership share in five producing Norwegian oil and gas fields to Faroe Petroleum.
