Shell sells New Zealand asset
New Zealand
WELLINGTON, April 6, 2017 – Royal Dutch Shell said on Thursday it would sell its 50% share in the Kapuni gasfield in New Zealand to Todd Energy for an undisclosed price.
The two companies have been partners in the field in question since 1955, Shell said in a press release.
“We are pleased to be selling our interest in Kapuni to our long-term joint venturer Todd Energy which, as an original participant in Kapuni, has demonstrated a huge commitment to the asset, the region and to New Zealand,” Rob Jager, country chair of Shell New Zealand, said in a statement.
The deal includes the transfer of ownership to Shell of a separate joint venture, STOS, which operates two other gasfields in the country.
The news comes a day after Shell announced the sale of its LPG business in Hong Kong and Macau to DCC energy for USD 150 million, conditioned upon the Shell brand remaining visible on assets associated with the business.
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