Shell acquires attractive Trinidad acreage

PORT OF SPAIN, June 1, 2017 – Shell has announced plans to acquire lucrative acreage in Trinidad and Tobago’s east marine area from super major Chevron for USD 250 million.

The transaction, expected to be finalised in June 2017, includes the Dolphin, Dolphin Deep, and Starfish fields which together produced around 2.1 mcm (74 mcf) of natural gas in 2016.

The deal will also give Shell a 50% stake in the Manatee field, which is operated by Chevron and a 50% stake in Trinling, an LNG transportation and marketing firm.

The deal is part of Shells larger strategic efforts to expand and monetise assets in the Caribbean region.

In addition to this most recent announcement, Shell is in talks to develop a 17-kilometre pipe line between the Dragón field in Venezuela and the Shell-operated Hibiscus field. The pipeline will transport between 5.66 mcm-8.5 mcm (200 mcf-300 mcf) of gas.