Shell Selling Stakes in UK North Sea Oil Fields

Shell Selling Stakes in UK North Sea Oil Fields
Shell is selling its stakes in a group of North Sea oil fields, according to marketing materials seen by Bloomberg News.

Shell Plc is selling its stakes in a group of North Sea oil fields, according to marketing materials seen by Bloomberg News.

The assets include minority stakes in two fields operated by BP Plc and an interest in a discovery field also operated by BP in the waters east of Scotland.

A spokesperson for Shell declined to comment.

All the sites are connected to a central processing facility in what’s known as the Eastern Trough Area Project. Shell has a 25% stake in the producing Madoes field and a 21% stake in the Mirren field in the same area. Net production is estimated to be about 1,000 barrels a day.

The Kate field, in which Shell has a 25% stake, is estimated to contain 180 million barrels of oil.

Potential bidders will be able to access a data room on the projects in January, with offers due by the middle of April, according to the materials.



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Most Popular Articles