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Shell to sell stakes in Norwegian Assets

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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Published: 12-06-2020

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