Shell: sells two assets in Norwegian continental shelf

(CercleFinance.com) - Anglo-Dutch oil and gas major Royal Dutch Shell on Wednesday said that it has agreed to sell its stakes in two projects in the Norwegian continental shelf to local oil firm Okea for 556 million dollars.


Shell, through its Norske Shell division, has reached an agreement to sell its entire 44.6% interest in Draugen and 12% interest in Gjoa as part of its 30-billion dollar divestment program, it said.

The transaction is expected to be complete in the fourth quarter.

Shell also said that it has completed the sale of its 15% stake in Malaysia's LNG Tiga to the Sarawak State Financial Secretary (SFS) for 750 million dollars.

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