Shell’s Gabon asset sale one step nearer

LIBREVILLE , November 28, 2016 – Talks between Shell and a buyer for its onshore Gabon assets have moved closer to completion.

Shell’s assets in the country, thought to be valued at around USD 700 million, were up for sale in June, with E&P company Perenco and private equity fund Carlyle Group reaching the second round. Shell has not revealed the identity of the buyer.

Gabon is one of several countries where Shell is shedding assets, a move part of a USD 30 billion divestment campaign initiated following the acquisition of BG Group in February. The company has already sold or has agreed to sell some $6 billion of assets worldwide, yet uptake has been due to depressed oil prices.

Shell assets in Gabon include the Rabi Kounga and Gamba fields.

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