Shell sells offshore stakes in Colombia to Noble

Colombia

BOGOTA, March 27, 2019 – Super-major Shell has farmed out two 40% stakes in Colombia’s offshore COL-3 and GUA OFF-3 blocks to Noble Energy, international media reported Tuesday.

Shell acquired the blocks earlier this month when it signed agreements with the country’s National Hydrocarbons Agency. Together, the two blocks are expected to see USD 100 million of investment during their first phase of exploration.

“This is a serious bet of two large companies on the Colombian offshore potential, which will surely bring progress and well-being for the Caribbean region as a whole,” agency president Luis Miguel Morelli said in a statement cited by Reuters.

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