Shell to sell Norwegian stakes

Royal Dutch Shell is trying to sell its interest in two oilfields and two pipelines in Norway.

According to Reuters, Shell has launched the sale of its stakes in Norwegian fields and pipelines, which was described in a sales document seen by Reuters.

The company will sell its 6.45 per cent interest in the Kvitebjorn field and pipeline, as well as its 3.225 per cent interest in the Valemon Unit and Valemon Rich Gas Pipeline, according to the document.

The offshore assets – operated by Equinor – provide access to a resource of 17 million boe with a daily production of 7,200 boe, and are expected to raise between US$50 and $US100 million in total according to Reuters.

Shell’s annual report said the company is currently a partner in 34 offshore production licences in Norway and operates 14 of them.

Regarding this sale, the company has said it will not be commenting on any activities it is engaging in due to commercial sensitivities.

For more information visit the Shell website.

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