UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
Shell sells package of Norwegian Continental Shelf assets
OKEA has entered into an agreement with Shell to acquire working interests in the Norwegian Continental Shelf’s (NCS) Draugen (44.56% , operator) and Gjøa (12% , non-operator) fields for a total consideration of NKr4.52bn ($556mn). Some 80% of decommissioning financial liabilities will remain with Shell up to an agreed cap.
OKEA will acquire net daily production of approximately 22,000 boe/d as part of the deal, and, according to market analyst Wood Mackenzie will rank 19th on the NCS in terms of daily production in 2018. The company’s net resources will increase from 11mn to 53mn boe.
News Item details
Journal title: Petroleum Review
Countries: Norway -
Subjects: Economics, business and commerce, Oil and gas, Exploration and production
