* Exxon recently held talks with a number of companies
* Exxon produced 170,000 bpd in Norway in 2017
* Investment bank Jefferies running process -sources
* Exxon shares up 1.7% in New York after news of the sale(Adds detail)
By Ron Bousso and Shadia Nasralla
LONDON/ ABERDEEN, Scotland, Sept 5 (Reuters) - Exxon Mobilhas agreed to sell its Norwegian oil and gas assets forup to $4 billion, ending its production in a country where itstarted operations more than a century ago, three sourcesfamiliar with the matter said on Thursday.
U.S. oil major Exxon said in June it was looking to sell itsNorwegian upstream portfolio, which comprises minority stakes inmore than 20 fields, operated by local producer Equinorand Anglo-Dutch oil major Royal Dutch Shell.
An Exxon spokeswoman said: "As a matter of practice, wedon't comment on commercial discussions."
Shares in Exxon, the world's biggest publicly traded oilcompany, rose 1.7% to a session high in New York after Reutersreported a sale had been agreed.
The Irving, Texas-based company has held talks in recentweeks with a number of interested parties including Oslo-listedcompanies Equinor, Aker BP, and DNO,Stockholm-listed Lundin Petroleum as well as VarEnergi, backed by Italy's Eni, and private equity firmHitech Vision, industry sources said.
Equinor, Lundin and DNO were not immediately available tocomment. Var declined to comment.
The three sources said that Exxon had closed the saleprocess in recent days with one buyer after agreeing on theterms of a sale.
Exxon hired investment bank Jefferies to run the saleprocess, banking sources told Reuters last month.
Jefferies declined to comment.
In 2017, Exxon's net production from fields off Norway wasaround 170,000 barrels of oil equivalent per day, according toits website.
The sale, if approved by regulators and completed, comesafter Exxon focused in recent years on growing its onshore U.S.shale production, particularly in the Permian basin, as well asdeveloping huge oil discoveries in Guyana.
Oslo-based consultancy Rystad Energy said in a note in Junethat as of Jan 1, 2019, Exxon held 530 million barrels of oilequivalent on the Norwegian Continental Shelf.
"The profile is mature and declining, but neverthelesssizeable in terms of current production. A portfolio generatinghigh cash flow and with limited tax balances, given theNorwegian fiscal regime with 90% nominal tax relief oninvestment, will be highly attractive for any E&P companywithout sufficient revenue," Rystad analyst Simon Sjothun said.
Exxon is also considering selling its assets in the BritishNorth Sea after more than 50 years, industry sources toldReuters last month.(Reporting by Ron Bousso and Shadia Nasralla, additionalreporting by Nerijus Adomaitis in Oslo, Gary McWilliams inHouston; Editing by Elaine Hardcastle, Susan Fenton andAlexandra Hudson)
