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Reuters: Shell, Exxon offering 7 North Sea fields -web site

Mon Mar 3, 2008 2:42pm EST

NEW YORK, March 3 (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research) and Exxon Mobil Corp (XOM.N: Quote, Profile, Research) are fielding offers for seven producing natural gas fields in the Dutch sector of the North Sea, according to an energy acquisition tracking service.

NAM — a 50-50 joint venture between Shell and Exxon — is selling the fields as well as the associated infrastructure, according to IndigoPool, a Houston-based acquisition and divestiture Web site owned by oilfield services company Schlumberger Ltd (SLB.N: Quote, Profile, Research).

The fields produce about 3 million cubic meters of gas and 900 barrels of oil per day.

NAM announced a similar sale in October. It was not immediately clear whether there was any overlap in the announcements.

The companies could not be immediately reached for comment on the sales.

The North Sea was a vital production area for oil majors like Shell after they lost rich fields in the Middle East through nationalizations in the 1970s.

However, in recent years the big international oil companies have shifted their focus to areas such as Angola, which offer greater potential for discovering large amounts of oil and gas.

(Reporting by Michael Erman; Editing by Derek Caney)

http://www.reuters.com/article/rbssEnergyNews/idUSN0325414420080303

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