Shell to Sell Assets in North Sea

Royal Dutch Shell is expected to sell assets in the North Sea for $15 billion, as part of a wider attempt to rebalance its portfolio. As Statoil is pondering an international expansion and a reduced presence in mature fields, this could be the case for Shell as well.

According to the Financial Times, Shell will sell some of its North Sea fields. It could also capitalize early-stage projects. As a consequence, the company would accelerate divestments this year. 

Shell is expected to divest mature upstream assets, and projects that have not yet reached final investment decisions.

The report is coherent with earlier declarations by the Anglo-Dutch energy company, which said in October that it would have stepped up its effort to keep cash flowing in. 

The company forecasted that 2013 capital expenditure would peak at about $45 billion, according to Reuters.