Sector News

Reports: Shell looking to sell stake in some North Sea assets

October 16, 2015

Oil major Shell is reportedly looking to sell its stake In the Gannet field in the North Sea.

According to reports in The Times, the oil production platforms and pipelines 110 miles from Aberdeen are being marketed to buyers.

As well as the Gannet field, Shell could also sell its 26% stake in the Triton floating production, storage and offloading vessel (FPSO) operated by Dana Petroleum.

The FPSO processes oil and gas from a number of fields including Clapham, Pict and Saxon.

Shell has declined to comment on the move but said it was “continuously looking at opportunities worldwide” as It looks to streamline costs during the oil price decline.

The Gannet field is operated by Shell while ExxonMobil holds the remaining 50% share.

Earlier this year Shell and Esso Exploration signed a sales and purchase agreement to sell off their interest in the Anasuria cluster in the Central North Sea for $105million.

Source: Energy Voice

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