Reuters: Shell sells stakes in North Sea gas fields

Photo: ANP

Informed sources told Reuters news agency that Shell plans to sell stakes in two gas fields in the British part of the North Sea. The sale of Shell could bring a total amount of 1 billion dollars, transferring 880 million euros.

This relates to the 50% interest in Shell’s holdings in the Clipper and Lehman Alpha gas blocks in the southern part of the British North Sea. The other half of those fields are owned by Neo Energy, which last year acquired the North Sea assets of US oil group ExxonMobil. Gas from those fields is processed at a facility in the eastern United Kingdom. Clipper is about 66 kilometers from the British coast and Lehman Alpha is 69 kilometers away.

Shell has been saying goodbye to the old oil and gas fields in the North Sea for some time in order to better focus on more profitable projects. Shell is still actively developing new projects in the North Sea, including the oil and gas field northeast of the Shetland Islands as well as wind farms.

In December, Shell decided not to develop another oil field near the Shetland Islands, in part because it would not generate sufficient revenue. Shell’s development plans for this Campo field have led to much criticism from climate activists. They believe the new oil fields run counter to plans by the British government as well as Shell to reduce emissions.

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