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The Scotsman: Shell and Exxon to sell some North Sea assets

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(The Murdoch gas platform in the North sea is seen in this file photo on January 11, 2007. Royal Dutch Shell and Exxon Mobil Corp. have put North Sea oil and gas fields with around 74,000 barrels per day of production up for sale, as the oil majors reduce their involvement in the mature oil province. REUTERS/ConocoPhillips/Handout)

LONDON (Reuters) – Royal Dutch Shell and Exxon Mobil Corp. have put North Sea oil and gas fields with around 74,000 barrels per day of production up for sale, as the oil majors reduce their involvement in the mature oil province.

A Shell spokesman said the company was already in talks with private-equity backed Fairfield Energy on the sale of some of the assets.

Many analysts believe that the oil majors should reduce their exposure to the North Sea and reinvest money in more prospective regions but UK-registered companies like Shell and rival BP are cautious about showing a lack of commitment to the North Sea.

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This article: http://business.scotsman.com/latest.cfm?id=932312007

Last updated: 14-Jun-07 11:15 BST

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