Shell’s New Zealand assets under review
WELLINGTON, December 10, 2015 – Shell announced its New Zealand assets were under review in a press conference on Thursday, after 100 years of operating in the country.
Shell NZ produces 70% of the country’s natural gas, which was 55.3 mcm (1.9 bcf) in 2014, and has an 84% stake in the Maui gas and condensate field, as well as a 48% stake in the Kapuni and a 50% stake in the Pohoki fields.
Shell is also selling its stake as a joint venture partner in the 307-kilometre Maui gas pipeline, which transports gas from several fields with a daily capacity of around 9 mcm (300 mcf). The pipeline was put up for sale in October for $201 million.
Shell’s New Zealand chairman Rob Jager said the company’s options ranged from “business as usual to a full country exit.” Selling the New Zealand assets would be part of a worldwide decision to focus on oil drilling and production.