Shell prepares to sell North Sea assets

THE HAGUE, January 27, 2017 – A sale of most of Royal Dutch Shell’s North Sea assets for some USD 3 billion may be close at hand, international media reported on Friday.

London-based Chrysaor, backed by private equity fund EIG Partners, would be the buyer in a deal seen as a “litmus test” for rising interest in upstream assets, Reuters reported. According to a separate Bloomberg report, Canada’s largest pension fund is also on board.

Shell is working to shed around USD 30 billion worth of assets by 2018 in order to offset some of the costs associated with its USD 54-billion acquisition of BG Group in early 2016.

The company has already disposed of some USD 7.8 billion worth of assets, Reuters added.

Image courtesy of Shell

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