Shell wants to get rid of gas assets in the south of the UK in the North Sea

Shell is considering selling a stake in two clusters of gas fields located in the south of the UK in the North Sea, Reuters This was reported with reference to industry sources.

The possible sale is part of the firm’s efforts to retreat from the North Sea, where production has been declining since the late 1990s.

The aging pool is forcing long-standing oil and gas producers to shift to another, more productive and profitable business.

As part of the latest plan, Shell intends to lose a 50% stake in the cluster of deposits located in the Clipper Hub, in addition to the Leman Alpha complex, three sources said.

The potential sale of these assets could bring the company $ 1 billion, the report said.

Production from the two gas fields is piped to the Shell-operated coastal gas terminal complex Bacton in East Anglia.

The Clipper hub, located 66 km off the Norfolk coast, is capable of transporting approximately 400 million standard cubic feet of gas per day.

Hub Clipper not only extracts and processes gas from its own wells, but also imports and processes gas from the Barque, Skiff, Galleon, Carrack and Cutter fields.

The Clipper installation also imports and processes gas from Barque PB & PL, Galleon PN & PG, Skiff PS, Cutter QC and Carrack QA.

Last month Shell resumed negotiations with the UK’s offshore regulators to develop the Jackdaw gas field in the North Sea.

Earlier this month, Shell CEO Ben van Borden said the company plans to sell assets for an average of $ 4 billion annually.

In recent years, Shell has lost a stake in several oil and gas assets in the North Sea. This includes the sale of Harbor Energy’s oil and gas assets for $ 3.8 billion in 2017.

https://www.offshore-technology.com/news/shell-divest-assets-uk/ Shell wants to get rid of gas assets in the south of the UK in the North Sea

Exit mobile version