EnergyWatch

Shell to divest of oil fields in major deal

Nine oil fields will now change ownership after Shell has opted to divest of its activities in Africa. The oil giant will now see millions trickle in.

Photo: Shell

In a deal worth millions, Shell will divest of its shares in nine oil and gas fields in Africa, to a price of USD 587 million.

The fields for sale include five in Gabon, where the new buyer Assala Energy Holdings, owned by capital asset managers The Carlyle Group, will also take over the USD 285 million debt.

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