Shell to sell stakes in Norwegian Assets

Shell has launched the sale of its stakes in two offshore oilfields and two pipelines in Norway, according to a sales document seen by Reuters.

The company is selling its 6.45% interest in the Kvitebjorn field and pipeline and its 3.225% interest in the Valemon Unit and Valemon Rich Gas Pipeline, according to the document.

The offshore assets are operated by Equinor.

They access to a resource of 17 million boe with an annual daily production of 7200 boe, according to the document.

The assets are expected to raise between US$50 and US$100 million in total, according to industry and banking sources.

Shell is currently a partner in 34 production licences offshore Norway and operates 14 of them, according to its annual report.

In 2018, Shell sold several of its Norwegian assets to OKEA for US$566 million.

Source: oilfieldtechnology.com

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