EU approves Shell's major North Sea sale

One of the largest divestments ever seen in the North Sea will become a reality after the EU granted Shell approval.

Photo: Royal Dutch Shell PR

The UK-Dutch oil company which has long battled with heavy debt, will soon be able to ease its debt burden by USD 3.8 billion (EUR 3.4 billion).

The sale of a large share of Shell's North Sea assets has now been approved by the EU Commission. The buyer, British oil company Chrysaor, can now take over Shell's shares in the following ten oil fields: Buzzard (21.73%), Beryl (39.4%), Bressay (18.4%), Elgin-Franklin (14.1%), J-Block (30.5%), the Greater Armada cluster excluding Gaulpe (76.4%), Everest (100%), Lomond (100%), Erskine (32%) and Schiehallion (10%).

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

HitecVision closes first green transition fund

Nordic pension funds are among the investors in the first private equity fund targeting the green transition launched by Norway's largest private equity firm, which has been focusing on the offshore energy industry for more than 30 years.

Further reading

Related articles

Latest News

See all jobs