Shell divests of its North Sea assets for USD 3.8 billion

Oil major Shell is divesting massively of its assets in the North Sea to the relatively unknown and young oil company Chrysaor. The sale will bring Shell USD 3.8 billion.

Photo: Royal Dutch Shell PR

This decade's biggest sale in the North Sea has just materialized. In a large-scale, historic transaction, Shell has divested far more than half of the company's daily production in the North Sea in just one sale, informs Shell.

The buyer is the British oil company Chrysaor, which was founded in 2007 and is backed by parties including three equity funds.

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