Shell completes divestment of upstream interests in Ireland for up to US$1.3 billion
Published by Aimee Knight,
Editorial Assistant
Oilfield Technology,
The transaction includes an initial consideration of US$958 million (€840 million), interest of US$54 million (€47 million), and additional payments of up to US$285 million (€250 million) between 2018-2025, subject to gas price and production. Completion of the deal represents Shell’s exit from the upstream sector in Ireland.
The sale will contribute to Shell’s US$30 billion divestment target for 2016-2018.
Shell Energy Europe Limited (SEEL) has signed an offtake agreement to purchase Corrib gas following completion.
Shell retains a presence in Ireland through its aviation joint venture, Shell and Topaz Aviation Ireland Limited.
Read the article online at: https://www.oilfieldtechnology.com/special-reports/03122018/shell-completes-divestment-of-upstream-interests-in-ireland-for-up-to-us13-billion/
You might also like
McDermott awarded offshore contract by Brazil's BRAVA Energia
Under the contract scope, McDermott will execute the transportation and installation of flexible pipelines, umbilicals and associated subsea equipment for two new wells at the Papa-Terra field and two new wells for the Atlanta Phase 2 development.