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Shell starts sale of stakes in two Malaysian offshore fields

Shell starts sale of stakes in two Malaysian offshore fields

 

Shell has launched the sale of its stakes in oil and gas fields it does not operate off the coast of Malaysia, according to a document seen by Reuters.

The company announced in March that it was considering selling its stakes in the Baram Delta EOR and the SK307 production-sharing contracts, which are operated by Petronas Carigali Sdn Bhd.

The sale process for the two stakes, launched this month, is being run by investment bank J.P. Morgan, according to the sales document.

Sarawak Shell Berhad owns a 40% equity interest in Baram Delta and 50% in SK307, with Petronas Carigali holding the remainder.

Shell's portfolio contains total remaining reserves and resources of 230 million boe as of 2021, according to the document. Production is expected to reach 35 000 boe/d in 2022, and is forecast to grow to 44 000 boe/d by 2023, it said.

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Published: 23-07-2021

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