Shell considering sale of British North Sea gas fields:press
Global major Shell is preparing to sell its stakes in two gas fields in the southern British North Sea, part of an ongoing retreat of producers from the ageing basin, industry sources told Reuters on February 15.
Shell plans to offer its 50% stake in a cluster of fields in the Clipper hub, as well as the Leman Alpha complex, three sources said, with the assets valued at up to $1bn in total. Both fields supply natural gas via a pipeline to the onshore Bacton gas processing plant in eastern England.
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Shell has in recent years sold a number of its interests in the North Sea, including a $3.8bn package of assets to Harbour Energy in 2017.
The company is developing new projects in the North Sea, including the Penguins project north of the Shetland Islands, and also has plans to build offshore wind farms.
CEO Ben van Beurden said earlier this month that Shell wants to sell an average of $4bn worth of assets per year.