NAM to be broken up and sold off, as Dutch gas production ends
October 27, 2021
The Nederlandse Aardolie Maatschappij (NAM) set up in 1947 by Shell and Esso, is being dismantled, ending 75 years of Dutch gas extraction
The company, which is now 50% owned by Shell and 50% by ExxonMobil, is being chopped into four separate limited companies which will be sold off, including all its Dutch oil and gas interests, apart from the Groningen field which is being wound down.
The Groningen field, which has generated hundreds of billions of euros for the treasury, will close next year and the other fields, on both land and sea, are being sold off – probably to foreign investors.