Shell sells UK North Sea asset package

Posted on 20 Nov 2017 and read 478 times
Shell sells UK North Sea asset packageShell (www.shell.com) has completed the sale of a package of UK North Sea assets to Chrysaor for up to $3.8 billion, including an ‘initial consideration’ of $3.0 billion and a payment of up to $600 million between 2018-2021 (subject to commodity price), with potential further payments up to $180 million for future discoveries.

This sale was announced on 31 January 2017 and has an effective date of 1 July 2016. Completion follows the receipt of all necessary regulatory and partner approvals.

The package of assets consists of Shell’s interests in Buzzard, Beryl, Bressay, Elgin-Franklin, J-Area, the Greater Armada cluster, Everest, Lomond and Erskine — plus a 10% stake in Schiehallion. Shell retains a significant presence in the UK North Sea, to which it “remains committed”.

Following the completion, 253 staff were transferred from Shell to Chrysaor. The deal is said to show “the clear momentum” behind Shell’s $30 billion divestment programme and is in line with Shell’s drive to simplify its upstream portfolio and “re-shape the company into a world-class investment”.

Through its affiliates, Shell has also completed the sale of its entire Gabon onshore oil and gas interests to Assala Energy Holdings Ltd for a total of $628 million. Some 430 local employees have transferred from Shell to Assala Energy.

Be seen in all the right places!

Expo Manufactura 2018 Southern Manufacturing 2018 WIN Eurasia 2018 MACH 2018 Intermach / MTA 2018 Indusmach Africa 2018 (Kenya) Metaltech 2018 Subcon 2018 MTA Vietnam 2018 Maktek Eurasia 2018 MTA Hanoi 2018 Indusmach Africa 2018 (Tanzania) India Export News

Machinery-Locator
The online search from the pages of Machinery Market.

CNC Folding Machine FASTI 221 -25-3
Folding material size 
3 x 2,540mm, 
motor power 4.5kW
Year of production: 1999
Control: CNC Fas
Folding material size 3 x 2,540mm, motor power 4.5kW Year of production: 1999 Control: CNC Fas...
Inter-Plast Bodziachowski